[SMM Coking Coal and Coke Daily Brief] 20260518

[SMM Coking Coal & Coke Daily Brief]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,620 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,630 yuan/mt.

Coking coal side, most mines maintained normal production, and supply remained stable. Recently, transactions of some high-priced coal grades weakened, with prices seeing a slight correction. However, prices of premium coking coal remained firm. Online auction results showed more gains than losses, with the unsold rate staying at a low level. No obvious weakening signal has emerged in the supply-demand fundamentals for the time being.

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.

News side, leading coke producers initiated a round of coke price increase of 50-55 yuan/mt, which plans to take effect at 00:00 on May 20. In terms of supply, coke producers maintained moderate production enthusiasm, with smooth shipments and their own coke inventory staying at low levels. Demand side, hot metal production at steel mills continued to fluctuate at highs this week, supporting strong rigid demand for coke, and some steel mills with low inventory still had restocking needs. In summary, coke has entered the fourth round of price increase, but futures recently fluctuated downward, suppressing bullish sentiment. In the short term, the coke market is expected to be generally stable with slight rise. [SMM Steel]