[SMM Coking Coal and Coke Daily Brief] 20260429

[SMM Coking Coal & Coke Daily Brief]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,530 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,580 yuan/mt.

Coking coal side, mines maintained normal production with no significant increase for now. With the Labour Day holiday approaching, downstream restocking was largely completed, and some coal grades saw excessive price increases, leading to low buyer acceptance of high-priced coal grades and limited market transactions. However, most mines had pre-sold orders, with relatively small short-term shipments pressure, and the coking coal market may hold up well.

Coke market:

The nationwide average price of first-grade metallurgical coke (dry quenching) was 1,845 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (dry quenching) was 1,705 yuan/mt. The nationwide average price of first-grade metallurgical coke (wet quenching) was 1,490 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (wet quenching) was 1,400 yuan/mt.

In terms of supply, coke enterprises showed higher production enthusiasm, coke supply increased, and most coke enterprises actively shipped products, keeping their own coke inventory at relatively low levels. Demand side, most steel mills maintained medium-to-high coke inventory levels, and the current daily average hot metal production declined slightly, with steel mills still showing resistance sentiment toward coke price increases. In summary, coke and steel enterprises are currently in a standoff, the short-term coke market may be generally stable with slight rise, and the third round of increase is still expected to be implemented. [SMM Steel]