SunSirs: China Coke Market Prices Show a Relatively Strong Trend

According to the SunSirs Commodity Market Analysis System: On May 26, 2026, the average price of quasi-first-grade metallurgical coke was 1,681 RMB/ton. The core cost of coke is coking coal, which experienced a decline followed by a rebound during the week, with a sharp jump on Friday. The cost support shifted from weak to strong, leading to a significant uplift in the closing session.

Market Transactions: Coke: On May 25, coke prices remained relatively stable. On the same day, coking coal futures hit the limit up, while spot prices in major production areas rose by 30-80 RMB/ton. Downstream demand was active, and market trading activity was robust. Affected by raw material sentiment, coke prices showed clear upward expectations. On May 25, steel mills announced price hikes of 50 RMB/ton for wet quenched coke and 55 RMB/ton for dry quenched coke, effective from midnight on May 26, 2026. Due to the significant increase in raw material prices and strong potential for further rises, there was sentiment for continued coke price hikes, with expectations of a relatively strong performance in the near term.

The coke analyst at SunSirs believes: The short-term trend of coke price increases is evident, with the domestic coke market stabilizing first and then strengthening over the past week, followed by a late-day surge. The fourth round of spot price hikes has taken effect, while futures surged significantly, with the weekly average price of mainstream spot products reaching approximately 1,620 RMB/ton (tax-inclusive, wet-quenched standard Grade 1 coke), marking a 3.5% weekly increase. The main futures contract rose over 8% for the week, driven primarily by rising coking coal costs due to Shanxi mining accidents and steel mills' urgent restocking needs, establishing a short-term bullish trend.

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