According to the Commodity Market Analysis System of SunSirs, on November 22, 2025, the average price was 1,538 RMB/ton. The fourth round of price hikes has been fully implemented, and mainstream steel mills have raised prices by 50-55 RMB/ton. The supply of coking coal in the market is tight, and last week, the price of coking coal in the market was mainly affected.
In terms of price, the fourth round of price increases has been fully implemented, and coke enterprises are operating steadily. The supply of coking coal in the market is tight, and there is still support on the cost side. The inventory status in the market is running, and there is some support on the demand side.
In terms of inventory: As of November 2025, the total inventory of coking coal was 23.2718 million tons, with a slight increase compared to the previous month. Among them, steel mill inventory decreased by 1.13%, coking plant inventory increased by 1.67%, and coal mine inventory decreased.
Supply side: Due to safety regulations affecting coking coal production in 2025, it is expected that the national coking clean coal production may decline to 488 million tons, a reduction of approximately 16 million tons2. But the policy focuses on ensuring supply, and the actual tightening is limited.
In terms of production capacity: By 2025, the utilization rate of production capacity in the main coke producing areas of Shanxi and Inner Mongolia may be affected by fluctuations in steel demand, and the utilization rate of large enterprises may be 15% higher than that of small and medium-sized enterprises.
The coke analyst from SunSirs believes that the short-term supply of coke is expected to fluctuate at a high level due to the interweaving of coke coal inventory, environmental production restrictions, and coke enterprise operating rates. Attention should be paid to the implementation of policies and changes in downstream steel demand.
If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.
