[SMM Daily Brief on Coking Coal and Coke] July 20, 2026

[SMM Daily Briefing on Coking Coal and Coke]

Coking Coal Market:

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

In coking coal, safety supervision remains stringent, and the release of coking coal supply is still constrained. Currently, the overall market is dominated by a wait-and-see sentiment, downstream procurement is generally cautious, new orders at coal mines are relatively scarce, transactions for some high-priced coal varieties remain weak, online auctions for coking coal are gradually weakening, and shipment pressure at mines is evident. In the short term, the coking coal market may consolidate on a subdued note.

Coke Market:

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

In terms of news, some steel mills plan to reduce wet-quenched coke prices by 50 yuan/mt and dry-quenched coke prices by 55 yuan/mt, effective at 00:00 on July 22, 2026. Supply side, current profitability per tonne of coke at coke plants is moderate, and production remains stable. However, coke producers are facing shipment difficulties, and coke inventory at plants is experiencing a buildup. Demand side, steel prices have fallen and end-use demand has not improved. Some steel mills are gradually carrying out blast furnace maintenance plans, leading to a pullback in daily average hot metal production. Mills are controlling the arrival pace of coke. In summary, with an increase in blast furnace shutdowns and maintenance, steel mills' willingness to propose price cuts has risen. The coke market is expected to be in the doldrums in the short term, with price cut expectations.[SMM Steel]