[SMM Coking Coal Daily Briefing] October 29, 2025

Published: Oct 29, 2025 17:11

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[SMM Coal and Coke Daily Briefing] News side, major coke producers initiated the third round of coke price increases by 50-55 yuan/mt, expected to be implemented on October 31. Supply side, coke producers' profits improved slightly, but some remain in loss, maintaining previous production restrictions, leaving limited room for output expansion. Coupled with smooth shipments, coke producers generally maintain low inventory levels. Demand side, Hebei's environmental protection policy has tightened, steel mill production restrictions are expected to intensify, daily average hot metal output declined slightly, weakening coke demand. However, steel prices rebounded, profits recovered, and some steel mills have low coke inventory, leading to increased coke procurement. Overall, market bullish sentiment strengthened, and the coke market is expected to operate generally stable with a slight rise in the short term.

[SMM Coal and Coke Daily Briefing]

Coking coal market:

The offer price for low-sulphur coking coal in Linfen is 1,610 yuan/mt. The offer price for low-sulphur coking coal in Tangshan is 1,590 yuan/mt.

Fundamentals for raw materials, mine production increases are difficult, environmental and safety inspections in Inner Mongolia are strict, coking coal market sentiment is boosted, downstream purchase enthusiasm improves, supporting coking coal prices to develop in a generally stable and positive trend.

Coke market:

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

News-wise, mainstream coke enterprises initiated the third round of coke price increases, with a range of 50-55 yuan/mt, expected to be implemented on October 31. Supply side, coke enterprise profits improved slightly, but some remain in loss, maintaining previous production restrictions, leaving limited room for production increases; coupled with smooth coke shipments, their own coke inventory is generally maintained at low levels. Demand side, environmental protection policy in Hebei intensified, steel mill production restriction expectations strengthened, daily average hot metal production declined slightly, coke demand weakened; however, steel prices rebounded, profits recovered, and some steel mills have low coke inventory, leading to increased coke purchases. In summary, market bullish sentiment increased, and the coke market is expected to operate in a generally stable with slight rise pattern in the short term.[SMM Steel]

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