[SMM Daily Brief Review of Coking Coal and Coke] 20260331

Published: Mar 31, 2026 17:24

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[SMM Daily Brief Review of Coking Coal and Coke] In terms of supply, coking coal costs charged into coke ovens at coking enterprises remained high. Coupled with solid demand for coke from steel mills and increased procurement volumes, coke inventory at coking enterprises continued to decline. On the demand side, blast furnace production resumptions at steel mills continued to advance, and hot metal production kept rebounding, strengthening rigid demand for coke. In summary, the supply-demand structure of coke remained tight. In the short term, the coke market may continue to hold up well, and the first round of coke price increases is expected to be implemented soon.

[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, and coking coal supply remained stable. As downstream demand continued to release, inventory pressure at mines eased further, market sentiment in the coking coal market stayed elevated, and the online auction market remained active. In the short term, coking coal prices 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 still faced relatively high coal charging costs. Coupled with solid coke demand from steel mills and increased procurement volumes, coke inventory at coking enterprises continued to decline. Demand side, blast furnace production resumptions at steel mills continued to advance, and hot metal production kept rebounding, strengthening rigid demand for coke. Overall, the coke supply-demand structure remained tight. In the short term, the coke market may continue to hold up well, and the first round of coke price increases is about to be implemented. [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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