[SMM Coking Coal and Coke Daily Brief] January 30, 2026

[SMM Coking Coal and Coke Daily Briefing]

Coking Coal Market:

Low-sulphur coking coal in Linfen is offered at 1,650 yuan/mt. Low-sulphur coking coal in Tangshan is offered at 1,450 yuan/mt.

Fundamentals for raw materials: Recently, some mines suspended production due to accidents, tightening coking coal supply. Most mines operate normally. Before the Chinese New Year, downstream still has certain restocking expectations. Coking coal prices remain relatively firm, with limited downside expectations. Some high-quality coal types still see price increases. However, constrained by poor downstream profits, buyers are relatively cautious about high-priced resources. Some coal types that previously fetched high auction prices have seen slight price reductions. In summary, coking coal prices are expected to remain stable in the short term.

Coke Market:

The nationwide average price for first-grade metallurgical coke - dry quench is 1,790 yuan/mt. The nationwide average price for quasi-first-grade metallurgical coke - dry quench is 1,650 yuan/mt. The nationwide average price for first-grade metallurgical coke - wet quench is 1,440 yuan/mt. The nationwide average price for quasi-first-grade metallurgical coke - wet quench is 1,350 yuan/mt.

Supply side, after the first coke price increase was implemented, coke plant losses were repaired, production enthusiasm improved somewhat, and coke supply increased slightly. Demand side, recent rain and snow weather affected road transportation, prompting some steel mills with low inventory to increase purchasing enthusiasm. Most other steel mills already have coke inventory at reasonable levels and primarily purchase as needed. In summary, coke cost support is strong. After the first price increase was implemented, the market still holds some bullish expectations. The coke market is expected to operate generally stable with a slight rise in the short term.[SMM Steel]