[SMM Coking Coal and Coke Daily Brief] February 6, 2026

[SMM Coking Coal and Coke Daily Briefing]

Coking Coal Market:

Low-sulphur coking coal in Linfen is offered at 1,650 yuan/mt. Low-sulphur coking coal in Tangshan is offered at 1,450 yuan/mt.

Raw material fundamentals, with the Chinese New Year approaching, mines that have suspended production continue to raise prices, coking coal supply continues to tighten, downstream procurement enthusiasm also declines, new orders for coal mines decrease, online auction sentiment weakens, but coal mine coking coal inventory pressure is relatively small, willingness to hold prices firm is strong, short-term coking coal prices may operate in the doldrums.

Coke Market:

The nationwide average price for first-grade metallurgical coke - dry quench is 1,790 yuan/mt. The nationwide average price for quasi-first-grade metallurgical coke - dry quench is 1,650 yuan/mt. The nationwide average price for first-grade metallurgical coke - wet quench is 1,440 yuan/mt. The nationwide average price for quasi-first-grade metallurgical coke - wet quench is 1,350 yuan/mt.

In terms of supply, sales are hindered, and most coking enterprises still have slight losses, coking enterprise operating rates decline, coke supply decreases, but coking enterprise shipments are hindered, inventory accumulates somewhat. Demand side, steel mill maintenance and production cuts increase, and steel mill coke inventory is at a relatively high level, maintaining just-in-time procurement for coke. Overall, the coke supply-demand structure appears slightly loose, short-term coke market may operate steadily for the time being.[SMM Steel]