[SMM Coking Coal and Coke Daily Brief Review] 20260313

[SMM Daily Brief Review of Coking Coal and Coke]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,450 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,460 yuan/mt.

Coking coal, mines maintained normal production, and coking coal supply was ample. Recently, some downstream enterprises with low inventories showed willingness to restock, and some traders also entered the market to purchase, leading to a slight recovery in market trading sentiment. After some mines lowered their quotations, shipments improved somewhat, and inventory pressure eased slightly. Coking coal prices are expected to remain in the doldrums next week.

Coke market:

The nationwide average price of first-grade metallurgical coke (dry quenching) was 1,735 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (dry quenching) was 1,595 yuan/mt. The nationwide average price of first-grade metallurgical coke (wet quenching) was 1,390 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (wet quenching) was 1,300 yuan/mt.

In terms of supply, costs edged down slightly, and coke enterprises saw some profit recovery, with the overall operating rate remaining moderate. However, downstream purchasing sentiment was average, and shipments at some coke enterprises slowed, with some inventory pressure still present. Demand side, steel mills saw no significant improvement in profitability, and some steel mills slowed their procurement pace, mainly purchasing coke as needed. In summary, the coke market is expected to remain temporarily stable next week, and expectations for price cuts have temporarily faded.[SMM Steel]