[SMM Coking Coal and Coke Daily Brief] 20260902

[SMM Daily Review of Coking Coal and Coke]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 2,550 yuan/mt.

On the coking coal front, the pace of coal mine production resumptions remained slow, and high-pressure safety supervision continued, resulting in insufficient effective coking coal supply. Most coal mines held coking coal inventories at low levels, and mines showed strong sentiment to hold prices firm and hold back from selling. Online auction market heat remained high, and premium transactions were still the mainstream. In the short term, the coking coal market is likely to hold up well.

Coke market:

The nationwide average price of quasi-first-grade metallurgical coke - dry quenching was 2,200 yuan/mt.

In terms of supply, coal costs for charging continued to increase. After the third round of coke price increases was implemented, coke enterprises generally remained in a state of significant losses, leading to a strong willingness to voluntarily restrict production. Coke supply remained under pressure, and with downstream demand being relatively good, coke inventories at coke enterprises continued to decline. On the demand side, downstream steel mills' daily average hot metal production is expected to increase, ensuring rigid coke consumption, and steel mills' purchasing enthusiasm for coke increased. In summary, with tight fundamentals and strong cost support for coke, the coke market will continue to hold up well in the short term. [SMM Steel]