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[SMM Daily Review on Coal and Coke] 20250312
Mar 12, 2025, at 8:57 am
[SMM Daily Review on Coal and Coke]
In terms of supply, costs declined, most coke enterprises saw profit recovery, and production remained at a relatively high level. On the demand side, end-use demand improved to some extent, finished steel prices stabilized, and some steel mills resumed blast furnace operations, leading to increased coke consumption and a slight rise in steel mills' purchasing enthusiasm. In summary, coke supply remained ample, the fundamentals stayed relatively loose, and the coke market may fluctuate downward in the short term. The eleventh round of coke price cuts may be implemented this week.
Coking Coal Market:
The price of low-sulphur coking coal in Linfen was 1,300 yuan/mt, while in Tangshan it was 1,390 yuan/mt.
In terms of raw material supply, coal mines maintained normal production. On the demand side, coke and steel enterprises were cautious in purchasing coking coal due to cost considerations. Additionally, steel mills still showed intentions to lower coke prices, and most downstream players continued to implement low-inventory strategies. In summary, the eleventh round of coke price cuts is still likely, which may further suppress coking coal prices.
Coke Market:
The nationwide average price of Grade I metallurgical coke (dry quenching) was 1,680 yuan/mt, while that of Quasi-Grade I metallurgical coke (dry quenching) was 1,540 yuan/mt. The nationwide average price of Grade I metallurgical coke (wet quenching) was 1,340 yuan/mt, and that of Quasi-Grade I metallurgical coke (wet quenching) was 1,250 yuan/mt.
Supply side, with falling costs, most coke enterprises saw profit recovery, and production remained at a high level. Demand side, end-use demand improved, finished steel prices stabilized, and some steel mills resumed blast furnace operations, leading to increased coke consumption and slightly higher purchasing enthusiasm from steel mills. In summary, coke supply remained sufficient, and the fundamentals were still relatively loose. In the short term, the coke market may fluctuate downward, with the eleventh round of coke price cuts likely to be implemented this week.
