[SMM Coking Coal and Coke Daily Brief] February 4, 2026

Published: Feb 4, 2026 16:51

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[SMM Daily Coking Coal and Coke Brief] Supply side, coking plant losses narrowed, production remained relatively stable, and coke supply saw a slight increase. However, downstream procurement pace slowed down, hindering coking plant shipments. Demand side, end-use demand for finished products remained weak with sluggish sales, and blast furnace maintenance plans at steel mills increased. Most steel mills showed low restocking willingness, primarily purchasing as needed. Overall, the coke market is expected to remain stable in the short term.

[SMM Coking Coal & Coke Daily Brief]

Coking Coal Market:

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

Raw material fundamentals: with Chinese New Year approaching, large coal mines prioritize safety, private mines begin holiday shutdowns, supply tightens; downstream coking coal inventory has reached a reasonable level, trading sentiment weakens, high-priced cargoes are harder to conclude, yet current mine stocks are low and offers remain stable.

Coke Market:

First-grade metallurgical coke—dry quenched nationwide average price 1,790 yuan/mt. Quasi-first-grade metallurgical coke—dry quenched 1,650 yuan/mt. First-grade metallurgical coke—wet quenched 1,440 yuan/mt. Quasi-first-grade metallurgical coke—wet quenched 1,350 yuan/mt.

Supply side: coke producers’ losses narrowed, output stable, coke supply edged up; however, downstream procurement pace slowed and producers faced shipment hurdles. Demand side: finished-steel end-use demand stayed weak, sales sluggish, steel mill blast-furnace maintenance plans increased, most mills showed low restocking interest and purchased as needed. Overall, the coke market is expected to remain stable in the near 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.

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