According to the Commodity Market Analysis System of SunSirs, as of November 24, 2025, the average price was 1,538 RMB/ton. Currently, the coke market price is mainly stable. On November 24, the metallurgical coke price in Hancheng market is temporarily stable, and the current standard price for first grade coke dry quenching is 1,700-1,720 RMB/ton, with a factory cash price including tax.

In terms of price: On November 24th, the price of metallurgical coke in the Tangshan market remained stable. The mainstream transaction price in the market is currently 1,900 RMB/ton for first level dry quenching and 1,970 RMB/ton for top loading, both of which are ex factory cash prices including taxes. On November 24th, the price of metallurgical coke in the Tianjin port market remained stable, with quasi first level coke at 1,670 RMB/ton and first level coke at 1,770 yuan/ton, both of which are closing acceptance prices. 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. ‌

Supply side: Due to safety regulations, the production of coking coal in 2025 is expected to decline to 488 million tons, a reduction of about 16 million tons. However, the policy is mainly focused 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 coke market will maintain its current trend.

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