【SMM Daily Review on Coal and Coke】
Coking Coal Market:
The price of low-sulphur coking coal in Linfen is 1,320 yuan/mt, while in Tangshan it is 1,390 yuan/mt.
In terms of raw material supply, coal mines are operating normally, and supply remains stable for now. On the demand side, coke prices continue to decline, putting significant pressure on coke enterprises. Coupled with moderate demand for steel, downstream buyers mainly purchase coke as needed. In summary, the coking coal market may operate stable with a weak trend in the short term.
Coke Market:
The nationwide average price of Grade I metallurgical coke (dry quenching) is 1,680 yuan/mt, while that of Quasi-Grade I metallurgical coke (dry quenching) is 1,540 yuan/mt. The nationwide average price of Grade I metallurgical coke (wet quenching) is 1,340 yuan/mt, and that of Quasi-Grade I metallurgical coke (wet quenching) is 1,250 yuan/mt.
In terms of supply, most coke enterprises maintain stable production, and coke supply remains relatively ample. On the demand side, pig iron production at steel mills has increased slightly, and some mills have long-term, small-scale purchasing needs, leading to restocking demand and increased purchasing enthusiasm for coke. In summary, coke supply tightens, demand increases, and fundamentals improve. Coupled with the convening of the Two Sessions, market sentiment remains cautious. In the short term, the coke market may operate stable with a weak trend. 【SMM Steel】
