[SMM Coking Coal Daily Briefing] 20250924

[SMM Daily Coking Coal and Coke Brief]

Coking coal market:

Low-sulphur coking coal in Linfen was quoted at 1,510 yuan/mt. Low-sulphur coking coal in Tangshan was quoted at 1,450 yuan/mt.

Raw material fundamentals, most mines maintained normal production, while a few mines suspended operations for maintenance. Purchase willingness from downstream increased, market trading atmosphere was active, and order signing at mines was good. Some low-sulphur coking coal offers rose by 100 yuan/mt. Recently, coking coal prices held up well with a slight rise.

Coke market:

Nationwide average price for first-grade metallurgical coke - dry quenching was 1,735 yuan/mt. Nationwide average price for quasi-first-grade metallurgical coke - dry quenching was 1,595 yuan/mt. Nationwide average price for first-grade metallurgical coke - wet quenching was 1,390 yuan/mt. Nationwide average price for quasi-first-grade metallurgical coke - wet quenching was 1,300 yuan/mt.

Supply side, most coke enterprises maintained original production levels, while a few reduced output, leading to a slight decline in coke supply. Demand side, hot metal production at steel mills remained high, supporting stable coke demand. With the National Day holiday approaching, restocking demand from steel mills was released. In summary, pre-holiday restocking demand from steel mills persisted, the supply-demand structure for coke tightened somewhat, and cost support strengthened. In the short term, the coke market is expected to hold up well with a slight rise.[SMM Steel]