[SMM Coal and Coke Daily Briefing] 20251118

Published: Nov 18, 2025 16:44

Save

[SMM Daily Coal and Coke Brief Review] In terms of supply, coke plant profits have recovered to some extent, boosting production enthusiasm, and coke supply has increased. Currently, coke plants are actively shipping products, keeping coke inventory at low levels. On the demand side, blast furnace maintenance at steel mills increased this week, leading to a decline in just-in-time coke demand. Coupled with weak finished product sales in the end-user market, steel mill profits further narrowed, prompting mills to primarily make just-in-time procurement. Overall, the coke market is expected to remain stable in the short term.

[SMM Daily Coal & Coke Brief Review]

Coking Coal Market:

The offer price for low-sulphur coking coal in Linfen was 1,710 yuan/mt. The offer price for low-sulphur coking coal in Tangshan was 1,620 yuan/mt.

In terms of raw material fundamentals, mines operated normally with strict safety inspections, keeping coking coal supply relatively tight. Downstream buyers showed resistance to some high-priced coal varieties and adopted a cautious procurement approach. Online auctions showed mixed performance. In the short term, coking coal prices are expected to remain stable.

Coke Market:

The nationwide average price for first-grade metallurgical coke - dry quenching was 1,955 yuan/mt. The nationwide average price for quasi-first-grade metallurgical coke - dry quenching was 1,815 yuan/mt. The nationwide average price for first-grade metallurgical coke - wet quenching was 1,590 yuan/mt. The nationwide average price for quasi-first-grade metallurgical coke - wet quenching was 1,500 yuan/mt.

Supply side, coke plant profits recovered somewhat, leading to increased production enthusiasm and an increase in coke supply. Currently, coke plants are actively shipping, keeping coke inventory at low levels. Demand side, blast furnace maintenance at steel mills increased this week, reducing the just-in-time demand for coke. Coupled with weak sales in the end-user finished products market, steel mill profits narrowed further, leading them to primarily make just-in-time procurement for coke. In summary, the coke market is expected to remain stable in the short term.[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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Feb 6, 2026 18:30

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

Feb 6, 2026 18:30

Feb 6, 2026 18:09

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

Feb 6, 2026 18:09

Feb 6, 2026 17:41

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

Feb 6, 2026 17:41