[SMM Coking Coal and Coke Daily Brief] 20260513

[SMM Coking Coal and Coke Daily Brief]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,590 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,630 yuan/mt.

Coking coal side, mainstream mines maintained normal production with no inventory pressure for the time being. Current coke producers saw profit recovery with moderate production enthusiasm, providing some support for coking coal prices. However, market sentiment pulled back recently, coking coal and coke futures retreated, online auction prices showed mixed performance, and prices stayed high. In the short term, the coking coal market may remain stable.

Coke market:

The nationwide average price of first-grade metallurgical coke (dry quenching) was 1,845 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (dry quenching) was 1,705 yuan/mt. The nationwide average price of first-grade metallurgical coke (wet quenching) was 1,490 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (wet quenching) was 1,400 yuan/mt.

In terms of supply, the third round of coke price increases was implemented, coke producers saw increased profitability and maintained high production enthusiasm. Meanwhile, coke inventory at coke producers remained at low levels, and sentiment was relatively optimistic. Demand side, hot metal production at steel mills edged down recently, weakening rigid demand for coke. Steel mills' own coke inventory stayed at reasonable levels, and they mainly purchased as needed. In summary, downstream demand is expected to weaken, and the tight supply-demand structure for coke is expected to improve. In the short term, the coke market may be generally stable with slight rise. [SMM Steel]