[SMM Daily Coke & Coal Brief Review] 20250814

[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]