[SMM Daily Brief Review of Coking Coal and Coke] 20260330

[SMM Daily Brief Review of 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 side, coal mines maintained normal production, with ample coking coal supply. Boosted by the coke price hike and market demand, downstream procurement demand performed well, overall order signing at coal mines improved significantly, and online auction sentiment remained strong. The coking coal market was expected to continue strengthening this week.

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, coke producers saw smooth shipments, and coke inventory continued to decline, but the recent continuous rise in coking coal costs for charging into furnaces suppressed the production enthusiasm of some coke producers. Demand side, current hot metal production at steel mills continued to increase, driving up rigid demand for coke. Overall, coke fundamentals showed a tight pattern. Coupled with stronger cost support for coke, the coke market may hold up well in the short term, and the first round of coke price increases may be implemented this week. [SMM Steel]