According to the Commodity Market Analysis System of SunSirs, on November 28, 2025, the average price was 1,577.5 RMB/ton. The price of coke showed a stable to strong trend in November, and the fourth round of price increase was fully implemented. However, due to fluctuations in coking coal costs and environmental production restrictions, the price fluctuated at a high level.

In terms of price: On November 28th, the price of metallurgical coke in Tangshan market was temporarily 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 mounted first level dry quenching, both of which are factory price cash inclusive of tax. On November 28th, the price of metallurgical coke in Jingdezhen market was temporarily stable, currently 1,870 RMB/ton for first level metallurgical coke and 1,780 RMB/ton for quasi first level metallurgical coke, both of which are factory price acceptance inclusive of tax. On November 28th, the price of metallurgical coke in Yichun market was temporarily stable, currently 1,850 RMB/ton for quasi first level metallurgical coke and 1,680 RMB/ton for second level metallurgical coke, both of which are factory price acceptance inclusive of tax. ‌

Capacity and output: Capacity utilization rate. Large enterprises in major production areas such as Shanxi and Inner Mongolia have a capacity utilization rate 15% higher than small and medium-sized enterprises. However, due to fluctuations in steel demand, the overall operating rate remains stable. Production and inventory: Coking coal supply is tight, but policies to ensure supply alleviate the pressure of tightening. The total inventory of coking coal is 23.2718 million tons, with a slight increase compared to the previous period. ‌‌

On the demand side, the operating rate of steel mills has slightly decreased, showing a slight downward trend. The short-term price is supported by rigid demand. Although the demand for steel at the end is weak, the operating rate of steel mills' blast furnaces remains high, and there is a rigid demand for coke replenishment. After the National Day holiday, the available days of coke inventory in steel mills have decreased, further strengthening the demand for replenishment. ‌‌

Cost side: The high price of coking coal is running, and environmental protection production restrictions provide cost support. The situation of coking coal surplus has not changed, and the fourth round of coke price increase has landed. However, the profits of steel mills have narrowed, and the space for price increase is limited

The coke analyst from SunSirs believes that in the short term, the price of coke will remain high, the pace of replenishing inventory will slow down, and the impact of environmental protection and production restrictions will lead to a strong trend in prices.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.