[SMM Daily Coke & Coal Briefing] 20250805

Published: Aug 5, 2025 17:30

Save

[SMM Daily Briefing on Coke and Coal] In terms of supply, coke enterprises have average profits and limited willingness to increase production, maintaining stable operations. Currently, coke enterprises are experiencing smooth shipments, and coke inventory continues to decline. Demand side, steel mills have moderate profit margins, and blast furnace operations remain at a high level, maintaining a rigid demand for coke. In summary, steel mills are actively purchasing coke, and with the ongoing support of coke costs, there is still an expectation for coke prices to increase in the short term. The expected production restrictions at steel mills due to the September military parade will have a relatively small impact on short-term coke prices.

[SMM Daily Coal & Coke Market Review]

Coking coal market:

Low-sulphur coking coal in Linfen was quoted at 1,500 yuan/mt, while that in Tangshan was offered at 1,490 yuan/mt.

Raw material fundamentals: Coal mine production resumptions progressed slowly, while downstream buyers were in the restocking cycle, leading to smooth mine shipments. Coupled with market rumors that the National Energy Administration recently spearheaded coal capacity verification work, coking coal futures surged sharply, further lifting market expectations. Spot coking coal prices still have some upside potential.

Coke market:

The nationwide average price of first-grade metallurgical coke (dry-quenched) stood at 1,715 yuan/mt, while that of quasi-first-grade (dry-quenched) was 1,575 yuan/mt. First-grade (wet-quenched) averaged 1,370 yuan/mt, and quasi-first-grade (wet-quenched) was 1,280 yuan/mt.

In terms of supply, coke producers' profits remained moderate with limited willingness to ramp up output, maintaining stable operations. Current coke shipments flowed smoothly, with inventories continuing to decline. Demand side, steel mill profits stayed decent, with blast furnace operations sustaining high levels, underpinning rigid coke demand. Overall, mills actively purchased coke amid sustained cost support, suggesting short-term coke prices still face upward expectations. The anticipated production restrictions for steel mills during the September military parade are expected to have a relatively small impact on near-term coke prices.[SMM Steel]

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Feb 6, 2026 18:30

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

Feb 6, 2026 18:30

Feb 6, 2026 18:09

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

Feb 6, 2026 18:09

Feb 6, 2026 17:41

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

Feb 6, 2026 17:41