[SMM Coking Coal and Coke Daily Brief] 20260729

[SMM Coking Coal and Coke Daily Review]

Coking Coal Market:

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

For coking coal, normalized safety regulation keeps supply tight, and online auction transactions see fewer unsold lots. However, the second round of coke price cuts has slowed downstream procurement pace, with most mines mainly fulfilling previous orders and shipments being moderate. Short-term coking coal prices are likely to be in the doldrums, and some high-priced coal types still have room for price cuts.

Coke Market:

The nationwide average price of quasi-first-grade metallurgical coke (dry-quenched) is 1,980 yuan/mt.

In terms of news, mainstream steel mills have lowered coke purchase prices—a reduction of 50 yuan/mt for wet-quenched coke and 55 yuan/mt for dry-quenched coke, effective from 0:00 on July 29, 2026. On the supply side, some coke producers face losses, and downstream purchase willingness is moderate. Coke producers are under significant shipment pressure, and in-plant coke inventories continue to build up. The combination of losses and inventory buildup has led some coke producers to make minor production cuts. On the demand side, steel mills are currently sustaining losses, with blast furnace maintenance and production cuts expanding and hot metal output declining. Demand for coke continues to decrease, and steel mills control their receipt pace, mainly purchasing as needed. In summary, the coke fundamentals are under pressure, and the short-term coke market is likely to remain in the doldrums. [SMM Steel]