According to the SunSirs Commodity Market Analysis System: As of April 28, 2026, the average price of quasi-grade I metallurgical coke stood at 1,560 RMB/ton. Both traders and steel mills adopted a cautious approach to procurement, primarily purchasing on an "as-needed" basis. Consequently, coke prices gradually halted their decline and stabilized; currently, the overall operating rate among domestic coke producers remains at a relatively high level.
Market Trading: At the beginning of the month, the market trading atmosphere was relatively subdued, with traders and steel mills maintaining a cautious stance and focusing mainly on demand-driven procurement. As a downward trend in prices became apparent, a strong "wait-and-see" sentiment permeated the market. On the steel mill side—given that their own inventories were at reasonable levels and their outlook on future coke prices was bearish—purchasing enthusiasm remained low. Meanwhile, coking enterprises faced pressure to move inventory; to boost sales, some firms began to proactively lower their prices.
Market Overview: Throughout April, coke market prices generally followed a trajectory of initial stability followed by a decline. At the start of the month, prices remained relatively steady as the market navigated a phase of supply-demand equilibrium, with prices in major regions fluctuating within a specific range. However, as the supply-demand landscape shifted mid-month, coke prices began to slide. By the end of the month, prices in certain regions had fallen by 100 to 200 RMB/ton compared to the beginning of the month. The magnitude of price declines varied by region: in North China, prices saw a more pronounced drop—influenced by factors such as production restrictions at steel mills—while in East China, the decline was relatively smaller, though still indicative of a downward trend.
Steel Demand: The steel industry serves as the primary downstream consumer of coke; in April, overall demand within the steel sector performed poorly. On one hand, the real estate market remained in a prolonged slump, with few new construction starts, resulting in sluggish growth in demand for steel products. On the other hand, the pace of infrastructure project development was slow, making it difficult for steel consumption to effectively materialize. To control costs, steel mills reduced their demand for coke; some mills adjusted their production schedules—lowering blast furnace operating rates—thereby reducing their procurement volumes for coke.
SunSirs Coke Analyst Commentary: In April, the coke market faced the dual pressures of oversupply and weak demand, rendering the outlook for future price trends far from optimistic. Enterprises and investors are advised to closely monitor market dynamics and adjust their business strategies in a timely manner.
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