[SMM Coking Coal and Coke Daily Brief] 20260603

[SMM Coking Coal & Coke Daily Brief]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,800 yuan/mt.

Coking coal side, safety inspections at coal mines in Shanxi tightened, compounded by the June safety month, limiting production release and keeping coking coal supply in a tight pattern. Market sentiment remained bullish, with coal mines having large pre-sale orders. In the short term, the coking coal market may hold up well.

Coke market:

The nationwide average price of quasi-first-grade metallurgical coke (dry quenching) was 1,870 yuan/mt.

News side, mainstream steel mills accepted the coke procurement price raise, with wet quenching up by 50 yuan/mt and dry quenching up by 55 yuan/mt, effective from 00:00 on June 3, 2026. Supply side, feed coal costs increased, putting coke producers' profits under pressure. However, with the fifth round of coke price increase implemented, production enthusiasm recovered somewhat. Coke producers saw smooth shipments, and coke inventory maintained a downtrend. Demand side, steel mill profits were moderate, and hot metal production of steel mill blast furnaces continued to fluctuate at highs, sustaining rigid demand for coke. Overall, coke fundamentals remained tight with strong cost support, and the coke market may hold up well in the short term. [SMM Steel]