[ SMM coking Coal and Coke market survey ] 20260119

[SMM Daily Coking Coal and Coke Briefing]

Coking Coal Market:

The offer price for low-sulphur coking coal in Linfen was 1,630 yuan/mt. The offer price for low-sulphur coking coal in Tangshan was 1,480 yuan/mt.

In terms of raw material fundamentals, mines maintained normal production, and coking coal supply was relatively stable. Some downstream coking plants made appropriate purchases, market sentiment recovered, and there were expectations for a slight rise in high-quality skeletal coal types. Coking coal prices were expected to be generally stable with a slight rise this week.

Coke Market:

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

Supply side, coking plants were operating at a loss, and the first round of price increases had not been implemented, which suppressed their production enthusiasm. However, downstream purchase enthusiasm improved, overall coke inventory at coking plants continued to decline, and some coking plants showed reluctance to sell. Demand side, steel mill profits gradually recovered, production enthusiasm increased somewhat, some low-inventory steel mills accelerated their restocking pace for coke, and simultaneously, traders entered the market diverting supply, leading to a significant increase in downstream demand for coke. In summary, with improving downstream demand and strengthening cost support, the coke market was expected to hold up well this week, and the first round of coke price increases was highly likely to be implemented.[SMM Steel]