SunSirs: China Coke Market Operated Narrowly and Weakly Last Week (October 10-17)

According to the Commodity Market Analysis System of SunSirs, on October 17, 2025, the average price was 1,413 RMB/ton. In early October 2025, the domestic coke market maintained stable operation, steel mills maintained high-speed rail water production, and coke enterprises had stable profits. However, the fluctuation of steel prices suppressed the upward momentum, and short-term prices remained stable.

In terms of price: In early October, the prices of coke in the East China, Hebei, and Northeast markets were temporarily stable, with some regions experiencing support due to tight supply and demand balance. For example, Liaoning's quasi first grade dry quenched metallurgical coke was quoted at 1,680 RMB/ton (factory tax included), and on October 17th, the price of metallurgical coke in the Tangshan market was temporarily stable. The current market main current transaction price is the tamped first grade dry quenched coke at 1,735 RMB/ton, and the top mounted first grade dry quenched coke at 1,805 RMB/ton, both of which are factory cash prices including tax. On October 17th, the price of metallurgical coke in the Tianjin Port market was temporarily stable, with quasi first grade coke at 1,520 RMB/ton and first grade coke at 1,620 RMB/ton, both of which are closing and acceptance prices. Currently, the coke market is mainly operating steadily.

On the demand side: Currently, the downstream market demand is average, with steel mills maintaining high iron production (over 2.4 million tons/day), which supports the demand for coke. The cost side support is weak, with downstream essential procurement being the main focus. On the cost side, Shaanxi Province issued a coal mine safety inspection notice on October 16th, strengthening coke supply control, indirectly affecting coke costs. Coking coal prices remain strong, and coke enterprises have meager profits, which supports prices on the cost side.

The coke analyst from SunSirs believes that it is expected that coke enterprises will maintain their current trend in the short term, and they still need to continue to pay attention to the trend of coking coal prices and the impact of steel mill profits on coke prices in the later stage.

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