[SMM Coking Coal and Coke Daily Brief] 20260827

[SMM Daily Comment on Coking Coal and Coke]

Coking coal market:

The price of low-sulphur coking coal in Linfen is quoted at 2,400 yuan/mt.

Coking coal side, coal mine production is hard to release and structural shortages persist. In addition, the second round of coke price increases has been fully implemented, bolstering market confidence. The coking coal market may continue to hold up well 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, coke production costs continue to rise, and most coke enterprises are suffering severe losses, leading them to proactively intensify production restrictions. Meanwhile, downstream purchasing enthusiasm has increased, and coke inventories at coke enterprises are depleting at an accelerated pace, with some coke enterprises holding back from selling. Demand side, most steel mills have completed maintenance, and the resumption of blast furnace production is driving an increase in rigid demand for coke. Some steel mills with low inventories are purchasing at higher prices. However, steel mill profits are poor, and steel mills remain cautious about accepting further coke price increases. Overall, the coke market may hold up well in the short term. With both cost support and improving demand, coke is likely to see a third round of price increases. [SMM Steel]