According to the SunSirs Commodity Market Analysis System: On September 28, 2025, the average price was 1,043 RMB/ton. In September 2025, the coke market exhibited a fluctuating trend characterized by initial decline followed by rebound, driven by multiple factors including supply-demand adjustments, policy influences, and cost support.
**Price Overview**:
As of September 30, the metallurgical coke prices in Tangshan remained stable. The current mainstream market transaction prices were:
- Fixed-blast coke (Grade 1, dry quenching): 1,680 RMB/ton
- Top-blown coke (Grade 1, dry quenching): 1,730 RMB/ton
Both prices are ex-factory, cash, and include taxes.
In Tianjin Port, metallurgical coke prices also remained stable as of September 30, with the following quotations:
- Standard Grade 1 coke: 1,470 RMB/ton
- Grade 1 coke: 1,570 RMB/ton
After mid-September, rising coking coal costs drove coke prices higher. Coke producers in Xingtai and Yuncheng led the price hikes, increasing prices by 50-85 RMB/ton, with dry quenching coke quotations rising to 1,565 RMB/ton.
Supply Side: Coke production remains stable, but environmental restrictions on production have tightened in phases. Shanxi's total coke output increased by 0.4% year-on-year.
Demand side: Steel mills maintain a high daily output of pig iron at 2.3 million tons, but weakening finished product prices have led to a slowdown in procurement.
Cost side: The rebound in coking coal prices (lean coking coal with low sulfur rising to 1,420 RMB/ton) squeezed coking profits, leading to renewed losses for some enterprises and prompting a coking price hike.
SunSirs coke analyst noted that the coal and coke market in the fourth quarter may be affected by disturbances such as coal mine inspections and steel export pressures, leading to intensified price competition. However, temporary supply-demand imbalances could support a fluctuating but generally strong coke market.
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