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[SMM Daily Review on Coal and Coke] 20250206
Feb 06, 2025, at 8:39 am
[SMM Daily Review on Coal and Coke]
In terms of supply, coke enterprises operated normally, but market transportation capacity declined during the Chinese New Year, leading to average shipments from coke enterprises and an accumulation of coke inventory for most of them. On the demand side, affected by the decline in transportation capacity, coke deliveries to steel mills were hindered, causing a slight decrease in coke inventory at some steel mills. However, steel mills mainly purchased coke as needed, and the end-use market performed weakly. Steel mills still showed intentions to suppress coke prices. In summary, coke cost support remained weak, and market expectations were pessimistic. In the short term, the coke market may fluctuate downward.
Coking Coal Market:
The price of low-sulfur primary coking coal in Linfen is 1,400 yuan/mt. The price of low-sulfur primary coking coal in Tangshan is 1,500 yuan/mt.
Fundamentally, coal mines are gradually resuming production, and coking coal supply is steadily recovering. However, downstream restocking demand remains weak, and traders are adopting a cautious sentiment, maintaining a wait-and-see attitude toward the market. In summary, most coal mines have kept their prices stable, while some coal types are experiencing slow price reductions with supplementary declines.
Coke Market:
The nationwide average price of Grade I metallurgical coke (dry quenching) is 1,845 yuan/mt. The nationwide average price of Quasi-Grade I metallurgical coke (dry quenching) is 1,705 yuan/mt. The nationwide average price of Grade I metallurgical coke (wet quenching) is 1,490 yuan/mt. The nationwide average price of Quasi-Grade I metallurgical coke (wet quenching) is 1,408 yuan/mt.
In terms of supply, coke enterprises are operating normally. During the Chinese New Year period, market transportation capacity declined, leading to average shipment levels from coke enterprises and an accumulation of coke inventory for most producers. On the demand side, due to reduced transportation capacity, coke deliveries to steel mills were hindered, causing a slight decrease in coke inventory at some mills. However, steel mills primarily purchase coke as needed, and the end-use market remains weak. Steel mills still show a willingness to suppress coke prices. In summary, cost support for coke is weak, and market sentiment is pessimistic. In the short term, the coke market is expected to fluctuate downward.
