[SMM Coking Coal Daily Brief] August 29, 2025

Published: Aug 29, 2025 16:55

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[SMM Daily Coke Market Review] Supply side, with the military parade approaching, coke producers in Hebei, Shandong, and Henan gradually implemented production restrictions, imposing certain constraints on regional supply. However, producers in other regions saw profit recovery and increased production enthusiasm, resulting in only a slight overall reduction in coke supply. Demand side, blast furnace restrictions in Tangshan have begun successively, leading to a temporary decline in steel mills' coke demand. Nevertheless, some mills with low coke inventories remained active in purchases. In summary, both supply and demand for coke weakened, and the short-term coke market is expected to remain stable.

[SMM Daily Coking Coal and 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.

Raw material fundamentals: recent intensified coal mine safety inspections restricted coking coal output increases, but downstream procurement pace slowed down, market trading sentiment weakened, mine order signing was poor, online auction failures increased, and transaction prices started to decline to varying degrees. Short-term coking coal prices may remain in the doldrums.

Coke Market:

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

Supply side, with the parade approaching, coke enterprises in Hebei, Shandong, Henan and other regions gradually implemented production restrictions, imposing certain constraints on regional supply, but coke enterprises in other regions saw profit recovery and increased production enthusiasm, resulting in only a slight decrease in overall coke supply. Demand side, blast furnace production restrictions in Tangshan gradually began, steel mill demand for coke will temporarily decrease, but some steel mills have low coke inventory and are still actively purchasing. In summary, both coke supply and demand weakened, and the short-term coke market is expected to remain stable.[SMM Steel]

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