[SMM Coking Coal and Coke Daily Brief] 20260421

[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 1,550 yuan/mt.

Coking coal side, production at some mines that previously cut production has recovered somewhat, but major mines were still affected by safety inspections, limiting the increase in coking coal supply. Meanwhile, futures rallied, market sentiment warmed notably, stimulating prices of some coal grades to stabilize and rebound. In the short term, coking coal prices may hold up well.

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, coke producers' per-mt profit has recovered, production enthusiasm was moderate, shipments were relatively smooth, and in-plant coke inventory remained at low levels. Demand side, steel mills maintained strong production enthusiasm, hot metal production edged up, providing solid rigid demand support for coke. Additionally, with the Labour Day holiday approaching, some steel mills released pre-holiday restocking demand. Overall, the coke supply-demand structure remained tight, and the short-term coke market may be generally stable with slight rise. [SMM Steel]