[SMM Coking Coal and Coke Daily Brief] 20260428

[SMM Coking Coal & Coke Daily Brief]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,530 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,580 yuan/mt.

Coking coal side, safety inspections continued, and mine coking coal supply growth remained limited. With the Labour Day holiday approaching, market sentiment warmed up, and downstream enterprises actively purchased coking coal. Mine inventory stayed at low levels, and short-term coking coal prices are expected to be generally stable with slight rise.

Coke market:

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

In terms of supply, coking enterprises saw furnace coal costs edge up, but after two rounds of coke price increases, current coking enterprise profits recovered significantly, production enthusiasm was high, and coke supply grew steadily. Demand side, steel mill hot metal production dipped slightly this week, but overall hot metal production remained at high levels. Additionally, steel mills had restocking demand ahead of the Labour Day holiday, and buyer enthusiasm for coke procurement was moderate. Overall, the third round of coke price increase still has room for negotiation, and the short-term coke market is expected to be generally stable with slight rise. [SMM Steel]