[SMM Coking Coal and Coke Daily Brief] 20260716

[SMM Coking Coal and Coke Daily Commentary]

Coking Coal Market:

Linfen low-sulphur coking coal is quoted at 2,020 yuan/mt.

On the coking coal front, safety inspections remain stringent, overall capacity release is still restricted, and the tight supply pattern in producing areas has not improved significantly. Downstream end-use demand is weak, new orders at mines are insufficient, and market sentiment remains fearful of high prices; recently, online auction transaction prices have continued to decline, and the phenomenon of failed auctions has not improved. However, inventory pressure at mines is not significant, and coking coal prices are expected to consolidate and remain largely stable in the short term.

Coke Market:

The nationwide average price of quasi-first-grade metallurgical coke (dry-quenched) is 2,090 yuan/mt.

Supply side, most coke producers maintained profitability, operations were relatively stable, and coke supply saw some growth; meanwhile, downstream purchase willingness pulled back, and some coke producers' inventories gradually accumulated. Demand side, finished steel demand remained weak, steel mill profitability was under pressure, and coupled with expectations of declining raw material prices, steel mills remained cautious in coke procurement. Overall, market sentiment turned weaker, and the coke market is likely to operate in the doldrums in the short term. [SMM Steel]