[SMM Coking Coal Daily Brief] 20250822

[SMM Daily Coking Coal & Coke Brief]

Coking coal market:

Low-sulphur coking coal in Linfen was offered at 1,470 yuan/mt. Low-sulphur coking coal in Tangshan was offered at 1,450 yuan/mt.

Fundamentals of raw materials: previously suspended coal mines gradually resumed production, overall coking coal supply increased slightly, while end-user procurement slowed down, overall mine shipments weakened, online auction transaction prices mainly dropped slightly, market sentiment turned cautious, and some coal types may continue to adjust in price.

Coke market:

Nationwide average price for first-grade metallurgical coke - dry quenching was 1,845 yuan/mt. Nationwide average price for quasi-first-grade metallurgical coke - dry quenching was 1,705 yuan/mt. Nationwide average price for first-grade metallurgical coke - wet quenching was 1,490 yuan/mt. Nationwide average price for quasi-first-grade metallurgical coke - wet quenching was 1,400 yuan/mt.

News: major steel mills in Hebei and Shandong accepted the seventh round of coke price increase of 50-55 yuan/mt. In terms of supply, coke producers' profits expanded, production enthusiasm improved, but restricted by production limitations related to the parade, supply was unlikely to increase significantly; coke producers had smooth shipments, overall inventory pressure was relatively small. Demand side: production restriction dates for steel mills in Tangshan were confirmed, subsequent coke demand may decline, but steel mill profits were moderate, hot metal production decreased slowly, and there was rigid demand for coke. In summary, coke supply is unlikely to increase significantly, downstream steel mills have restocking demand for coke, and the coke market may hold up well in the short term.[SMM Steel]