[SMM Daily Brief Review of Coking Coal and Coke] 20260401

[SMM Daily Brief Review on Coking Coal and Coke]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,600 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,560 yuan/mt.

Coking coal, recent coal mine supply was normal, shipments continued to improve, and some high-quality coking coal and fat coal saw tight supply. However, some downstream enterprises became less accepting of high-priced coking coal, procurement pace slowed down, and wait-and-see sentiment began to emerge. In the short term, coking coal prices may remain generally stable with slight rise.

Coke market:

The nationwide average price of first-grade metallurgical coke (dry quenching) was 1,790 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (dry quenching) was 1,650 yuan/mt. The nationwide average price of first-grade metallurgical coke (wet quenching) was 1,440 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (wet quenching) was 1,350 yuan/mt.

In terms of supply, most coke enterprises maintained relatively stable operating rates, and downstream buyers showed moderate enthusiasm for coke procurement, allowing coke enterprises to ship smoothly, with no obvious inventory pressure for the time being. Demand side, steel mills were currently in the blast furnace production resumption stage, increasing rigid demand for coke, but no clear improvement was seen in end-use demand for finished steel products, market sentiment weakened, and steel mills' purchase willingness declined. In summary, the first round of coke price increase was officially implemented, but market sentiment recently pulled back, most steel mills maintained moderate coke inventory, and the coke supply-demand structure gradually shifted toward balance. In the short term, the coke market may remain generally stable with slight rise. [SMM Steel]