[SMM Coking Coal and Coke Daily Briefing] 20260818

[SMM Coking Coal and Coke Daily Brief]

Coking Coal Market:

Lin Fen low-sulphur coking coal was quoted at 2,070 yuan/mt.

Coking coal side, some coal mines in Shanxi gradually resumed production, but overall safety supervision remained strict, mine production release was constrained, coking coal supply remained tight, some low-inventory coke plants began moderate restocking, shipments remained good after coal mines raised prices, online auction lots maintained a low failed-auction rate, the structural shortage of high-quality backbone resources remained unchanged, and the short-term coking coal market may consolidate on a strong note.

Coke Market:

The nationwide average price of quasi-first-grade metallurgical coke - dry quenching was 1,925 yuan/mt.

Supply side, coking costs continued to increase, coke plant losses widened, and the production enthusiasm of some coke plants was dampened. Coupled with practical issues such as the structural shortage of coking coal, the scope of production cuts among coke plants continued to expand. Demand side, downstream steel mill profit margins remained under pressure, and some steel mills were cautious about purchasing, but most blast furnaces that had undergone maintenance earlier were preparing to resume production, driving an increase in hot metal production and providing a floor for coke demand. Overall, coking costs remained firm, coke fundamentals showed reduced supply and increased demand, imbalances continued to ease, and the short-term coking coal market may consolidate on a strong note.[SMM Steel]