[SMM Coking Coal and Coke Daily Brief Review] 20260317

[SMM Daily Brief Review of Coking Coal and Coke]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,450 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,460 yuan/mt.

Coking coal side, most coal mines maintained normal production, and coking coal production increased steadily. Recently, market sentiment improved somewhat, and transactions in some previously oversold coal varieties picked up significantly. In the short term, the coking coal market may remain generally stable with slight rise.

Coke market:

The nationwide average price of first-grade metallurgical coke (dry-quenched) was 1,735 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (dry-quenched) was 1,595 yuan/mt. The nationwide average price of first-grade metallurgical coke (wet-quenched) was 1,390 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (wet-quenched) was 1,300 yuan/mt.

In terms of supply, coking enterprises saw rising coking costs, while profit per mt of coke narrowed somewhat. In addition, coke producers still needed to reduce inventory, dampening their willingness to produce. However, downstream demand improved somewhat, and coke producers were actively making shipments. Demand side, the country's important meetings had concluded, and blast furnaces previously under production restrictions resumed production one after another, increasing rigid demand for coke. However, uncertainty still remained in finished steel consumption, and most steel mills were relatively cautious in coke procurement. Overall, the supply-demand imbalance in the coke market eased somewhat, and cost support strengthened. In the short term, the coke market may remain temporarily stable.[SMM Steel]