SunSirs: China Coke Market Operated Narrowly and Weakly Last Week (October 17-24)

According to the Commodity Market Analysis System of SunSirs, on October 24, 2025, the average price was 1,413 RMB/ton, and the coke market remained stable. Mainstream steel mills in the Tangshan market plan to increase the price of wet quenched coke by 50 RMB/ton and dry quenched coke by 55 RMB/ton, to be implemented at midnight on October 27, 2025.

In terms of the market, on October 24th, the price of blue charcoal in Shenmu market was relatively strong, with intermediate material prices ranging from 790 to 860 RMB/ton, small material prices ranging from 740 to 800 RMB/ton, and mainstream coke prices ranging from 550 to 585 RMB/ton, all of which were cash inclusive of taxes. On October 24th, the price of metallurgical coke in Tangshan market was temporarily stable, with the current mainstream transaction price for first level dry quenching being 1,735 RMB/ton and top mounted first level dry quenching being 1,805 RMB/ton, both of which are cash inclusive of taxes at the factory price. Cost pressure: the price of coking coal is stable, medium, and strong (Shanxi lean coal is 1,250 RMB/ton, and Mongolian 5# raw coal is 1,127 RMB/ton), supporting the price of coke.

In terms of supply and demand: Environmental restrictions in North China have led to a tightening of supply, but poor profits from steel mills (Tangshan steel billet profit -61 RMB/ton) have suppressed demand. The performance of the pig iron market this week has been inconsistent, and the transaction atmosphere is average. During the week, pig iron companies maintained normal production, mainly delivering pre orders, and the inventory in the factory decreased. Downstream companies maintained essential procurement. Currently, the overall market realization is flat, and the second round of coke price increase at the end of the week has gradually landed, resulting in high raw material costs.

The cyclohexane analyst from SunSirs believes that the price increase of coke enterprises is gradually landing, and it is expected that the coke market will operate steadily with a moderate to strong trend in the short term, with prices slightly rising.

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