[SMM Coking Coal and Coke Daily Brief] 20260423

[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 at mines in major producing areas have been relatively strict recently, and coking coal supply remained relatively stable. Market sentiment improved recently, coupled with steadily increasing downstream demand, inventory pressure at mines eased somewhat, and online auction transaction prices for some coal grades rose to varying degrees. In the short term, the coking coal market may hold up well with a generally stable with slight rise trend.

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, profitability at most coke enterprises improved, production enthusiasm was relatively high, and with strong downstream demand, shipments from coke enterprises were smooth, leading to continued inventory drawdown at coke enterprises. Demand side, hot metal production at steel mills remained at a relatively high level, rigid demand for coke increased, and with the Labour Day holiday approaching, some steel mills released partial restocking demand, showing strong enthusiasm for coke procurement. Overall, the coke supply-demand structure continued to be tight, and the short-term coke market may remain generally stable with slight rise. [SMM Steel]