[SMM Daily Brief Review of Coking Coal and Coke] 20260318

Published: Mar 18, 2026 13:34

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[SMM Coking Coal and Coke Daily Brief Review] In terms of supply, coking costs increased and losses widened somewhat. At present, coke producers were barely maintaining normal operating rates, while coke production remained temporarily stable. Meanwhile, downstream demand for coke increased, and coke producers' shipments improved somewhat. On the demand side, steel mills were in an active phase of resuming production, while finished steel prices fluctuated upward and steel mill profitability improved somewhat, boosting production enthusiasm and increasing demand for coke. In summary, the fundamentals of coke supply and demand developed in a positive direction, and the coke market may remain generally stable with slight rise in the short term.

[SMM Daily Brief Review on 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, mainstream mines maintained normal production, and coking coal supply remained stable. Recently, downstream buyers increased purchases of coal varieties with high cost-performance ratios, and market participants' sentiment improved somewhat. However, the failed auction rate on online bidding increased, and some high-priced coal varieties still faced difficulties in closing deals. Overall, prices rose more often than they fell, and coking coal prices may fluctuate upward in the short term.
Coke Market:
The nationwide average price of first-grade metallurgical coke (dry quenching) was 1,735 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (dry quenching) was 1,595 yuan/mt. The nationwide average price of first-grade metallurgical coke (wet quenching) was 1,390 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (wet quenching) was 1,300 yuan/mt.
In terms of supply, coking costs increased and losses widened somewhat. At present, coke producers were striving to maintain normal operating rates, while coke production was temporarily stable. At the same time, downstream demand for coke increased, and coke producers' shipments improved somewhat. Demand side, steel mills were currently in a phase of actively resuming production, while finished steel prices fluctuated upward, and steel mill profits increased somewhat, boosting production enthusiasm and increasing demand for coke. Overall, the fundamentals of coke supply and demand were improving, and the coke market may remain generally stable with slight rise in the short term. [SMM Steel]

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