[SMM Coking Coal and Coke Daily Brief Review] 20260326

[SMM Daily Brief Review on Coking Coal and Coke]

Coking Coal Market:

Linfen low-sulphur coking coal was quoted at 1,600 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,560 yuan/mt.

Coking coal, mines maintained normal production, with ample supply. Recently, market sentiment was relatively positive and transactions were active. Coking coal inventory at mines continued to decline, and there were no failed bids in recent online auctions for coking coal, pushing coking coal prices generally higher. In the short term, the coking coal market may hold up well.

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, costs rose further, and losses at most coke producers widened, strengthening their willingness to push for a coke price hike. As expectations grew for the coke price hike to be implemented, coke producers maintained stable production. Demand side, finished steel shipments improved somewhat, steel inventory began to decline, and steel mills became more willing to produce. Daily average hot metal production continued to increase, raising acceptance of higher coke prices. Overall, coke fundamentals shifted toward tightness. In the short term, the coke market may be generally stable with slight rise, and the coke price hike is expected to be implemented. [SMM Steel]