January 3, SMM Coking Coal News,
Coking Coal Market:
Linfen low-sulfur primary coking coal was quoted at 1,450 yuan/mt. Tangshan low-sulfur primary coking coal was quoted at 1,600 yuan/mt.
Fundamentally, as year-end approaches, coal mine capacity tasks have been completed, leading to production cuts. Additionally, some traders hold weak expectations, resulting in cautious procurement and a cooling market trading atmosphere. Online auction transactions continued to see prices drop slightly. Order signing was moderate, high-priced coking coal faced weak transactions, coal mine shipments were sluggish, and the coking coal market struggled to end its downward trend.
Coke Market:
The nationwide average price of Grade I Metallurgical Coke (dry quenching) was 1,955 yuan/mt. The nationwide average price of Quasi-Grade I Metallurgical Coke (dry quenching) was 1,815 yuan/mt. The nationwide average price of Grade I Metallurgical Coke (wet quenching) was 1,590 yuan/mt. The nationwide average price of Quasi-Grade I Metallurgical Coke (wet quenching) was 1,508 yuan/mt.
In terms of supply, recently, the cost of coal entering coke ovens has declined, profitability remains moderate, and production enthusiasm has not diminished. On the demand side, steel mill pig iron production remains stable, rigid demand for coke is moderate, and downstream steel mills have improved arrivals while controlling the pace of coke deliveries, impacting coke inventory accumulation at coke plants. Overall, some coke plants have seen inventory accumulation, and the cost-side support for coke is insufficient. The coke market is expected to operate stable with a weak trend next week.
