According to the SunSirs Commodity Market Analysis System: On April 21, 2026, the average price of quasi-first-grade metallurgical coke stood at 1,535 RMB/ton. As some steel enterprises began to replenish their inventories, demand for coke increased; consequently, coke prices gradually halted their decline and stabilized. Currently, the overall operating rate among domestic coke producers remains at a relatively high level.
Price Hike Implemented: Following the implementation of the second round of price increases for coke, market prices demonstrated a noticeable upward trend. Prior to this round of increases, coke prices had been relatively stable but appeared somewhat sluggish. With the realization of the second price hike, coke prices across various regions were generally adjusted upward, with increases ranging from approximately 100 to 120 RMB/ton.
Market Overview: In early April, coke prices continued the weak downward trajectory observed in the preceding period. This was primarily due to the relatively ample inventories held by steel enterprises at the time, which dampened their enthusiasm for purchasing coke and resulted in a distinct market situation of supply exceeding demand. Concurrently, uncertainties within the macroeconomic environment eroded market confidence, keeping coke prices under sustained pressure. In most regions, coke prices experienced varying degrees of downward adjustment; in some areas, the price of first-grade metallurgical coke fell by 100 to 150 RMB/ton compared to the end of the previous month. By mid-month, however, as some steel enterprises began to replenish their stocks, demand for coke picked up. Consequently, coke prices gradually halted their decline and stabilized, with some regions even showing signs of a slight rebound. Nevertheless, the overall magnitude of the price rebound remained limited, largely because market supply remained relatively ample and the downstream steel industry lacked sufficient momentum for demand growth.
Demand Analysis: Steel enterprises have adopted a cautious approach to purchasing coke, primarily adhering to a "buy-on-demand" strategy while maintaining their inventory levels within a reasonable range. Beyond the steel sector, demand for coke from industries such as chemicals and non-ferrous metals has remained relatively stable. Within the chemical industry—where coke serves as a raw material for the production of products such as calcium carbide and synthetic ammonia—demand has held steady at a consistent level. Similarly, demand from the non-ferrous metal smelting industry has remained fundamentally stable; however, given that this sector accounts for a relatively small share of total coke consumption, its impact on overall market demand is limited. According to an analyst specializing in coke at SunSirs, coke prices are likely to continue exhibiting a volatile trend in the short term. On one hand, the current situation of ample market supply is unlikely to change in the near future, which will exert some downward pressure on prices. On the other hand, as the steel industry gradually enters its traditional peak season, demand is expected to see a certain degree of improvement, thereby providing some support to coke prices.
SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.
