[SMM Coking Coal and Coke Daily Brief] 20260520

Published: May 20, 2026 16:36

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[SMM Coking Coal and Coke Daily Brief] In terms of supply, coking enterprises maintained moderate operating enthusiasm with good shipments, and coking enterprises continued to maintain low inventory levels. Demand side, downstream steel mills' blast furnace daily average hot metal production fluctuated at highs, resulting in high daily coke consumption. Some steel mills saw a declining trend in coke inventory and had restocking demand. However, recent continuous pullbacks in finished steel prices weakened steel mill profitability, suppressing steel mills' enthusiasm to purchase. In summary, coke and steel enterprises were in a standoff phase, and the coke market may remain stable in the short term.

[SMM Coking Coal & Coke Daily Brief]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,600 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,630 yuan/mt.

Coking coal side, some mines underwent maintenance, leading to a phased contraction in production, but most mines maintained normal operations. After active restocking in the earlier period, downstream inventory was at a reasonable level. Recently, purchases were mainly on an as-needed basis, market transaction activity declined, and downstream acceptance of high-priced coal grades was lukewarm. In the short term, the coking coal market may fluctuate.

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.

Supply side, coke enterprises maintained moderate production enthusiasm, with good shipments, and continued to keep low inventory levels. Demand side, downstream steel mills' blast furnace daily average hot metal production fluctuated at highs, resulting in high daily coke consumption. Some steel mills saw a declining trend in coke inventory, indicating restocking demand. However, recent continuous pullbacks in finished product prices weakened steel mills' profitability, suppressing their purchasing enthusiasm. In summary, coke and steel enterprises were in a standoff phase, and the coke market may remain stable in the short term. [SMM Steel]

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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