[SMM Coking Coal Daily Brief] 20250819

Published: Aug 19, 2025 17:12

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[SMM Daily Coke and Coal Review] In terms of supply, coking enterprises' profits improved, boosting production enthusiasm. Coking companies actively shipped goods, with coke inventory remaining at a low level. On the demand side, steel mill profits were good, but an increase in blast furnace maintenance led to a decrease in rigid demand for coke. Overall, affected by production restrictions due to the military parade, both coking enterprises and steel mills faced subsequent production restrictions, alleviating the supply-demand imbalance in the coke market. In the short term, the coke market may stabilize, and the difficulty of implementing the seventh round of price increases has increased.

[SMM Daily Coking Coal and Coke Market Review]

Coking coal market:

The low-sulphur coking coal price in Linfen was quoted at 1,470 yuan/mt, while that in Tangshan stood at 1,450 yuan/mt.

Raw material side, downstream buyers maintained cautious purchasing attitudes, procuring as needed. Transactions of high-priced resources remained sluggish. Some mines adjusted production plans by implementing the "276 working days" policy, leading to a slight decline in domestic coking coal supply. Most mines currently maintain low inventory levels, showing strong reluctance to budge on prices.

Coke market:

The nationwide average price of first-grade metallurgical coke (dry quenching) was 1,790 yuan/mt, while that of quasi-first-grade (dry quenching) reached 1,650 yuan/mt. First-grade metallurgical coke (wet quenching) averaged 1,440 yuan/mt, with quasi-first-grade (wet quenching) at 1,350 yuan/mt.

Supply side, coke producers saw improved profits, boosting production enthusiasm. They actively shipped products while maintaining relatively low coke inventory levels. Demand side, steel mills enjoyed favorable profit margins, but increased blast furnace maintenance reduced rigid coke demand. Overall, production restrictions for both coke producers and steel mills are expected due to parade-related controls, alleviating the supply-demand imbalance in the coke market. The coke market may stabilize in the short term, with growing difficulty in implementing the seventh round of price increases.[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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