[SMM Daily Coke & Coal Brief Review] 20250814

Published: Aug 14, 2025 17:38

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[SMM Daily Coke and Coal Briefing] Mainstream steel mills have accepted the sixth round of coke price increases, with the increase ranging from 50-55 yuan/mt or 70-75 yuan/mt, to be implemented from 00:00 on August 14. In terms of supply, coke producers' profits have improved, leading to a slight increase in coke supply. However, due to factors such as environmental protection and military parades, some coke producers have received production restriction notices, and coke supply is expected to tighten. Demand side, blast furnace operations at steel mills remain at a high level, with high daily coke consumption. Additionally, some steel mills have low coke inventory levels and strong purchase willingness. In summary, the tight coke supply situation is difficult to change. Even if the sixth round of coke price increases are implemented and cost support weakens somewhat, coke prices can still maintain temporary stability in the short term.

[SMM Daily Coal & Coke Market Review]

Coking coal market:

Low-sulphur coking coal in Linfen was quoted at 1,470 yuan/mt, while Tangshan low-sulphur coking coal was offered at 1,490 yuan/mt.

Raw material fundamentals: Due to strict crackdowns on overproduction, coking coal supply tightened. However, recent wait-and-see sentiment among downstream buyers slowed procurement, with online auctions showing mixed performance. Some buyers cautiously signed orders, keeping coking coal prices in the doldrums in the short term.

Coke market:

The nationwide average price of first-grade metallurgical coke (dry-quenched) stood at 1,790 yuan/mt, while quasi-first-grade dry-quenched coke averaged 1,650 yuan/mt. First-grade wet-quenched coke was priced at 1,440 yuan/mt, and quasi-first-grade wet-quenched coke at 1,350 yuan/mt.

Mainstream steel mills accepted the sixth round of coke price increases (50-55 yuan/mt or 70-75 yuan/mt), effective from 00:00 on August 14. Supply side: Coke producers' profit recovery led to slight supply growth, but environmental protection measures and parade-related restrictions prompted production curbs at some plants, tightening supply expectations. Demand side: Blast furnace operations remained at high levels with strong daily coke consumption, while low inventories at some mills bolstered purchase willingness. Overall, the tight coke supply pattern persists, and prices are expected to hold steady despite the sixth hike and weakened cost support.[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.

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