This week, the coke market in China mainly maintained a stable operation (9.21-9.28)

September 28, News

I. Price Trends

According to the commodity market analysis system: As of September 28, 2025, the average price stood at 1,043 CNY per ton. By the 28th, China's chemical coke market remained strong. This Wednesday, a major coking company in Northwest China raised its chemical coke prices by 50 CNY per ton, and most other coking firms followed suit, implementing the price increase accordingly.

II. Market Analysis

In terms of price: The current price for medium lump chemical coke in the Ningxia market is 1140-1190 CNY/ton; the price for medium lump chemical coke in the Inner Mongolia market is 1090-1140 CNY/ton; the price for medium lump wet quenched chemical coke in the Xinjiang market is 750 CNY/ton, all of which are factory prices, cash and tax included.

Demand Side: Currently, downstream market demand is moderate. Recently, downstream calcium carbide companies and alloy plants have been replenishing their inventories ahead of the holiday period, leading to heightened purchasing activity and effective inventory consumption. Overall, the current supply of chemical-grade coke remains tight, though inventory restocking is nearing its end. As a result, sustained price increases for chemical-grade coke are unlikely. Instead, the market is expected to remain relatively stable before the holidays. On September 28, the Qujing market saw weaker coke prices: secondary-grade coke was quoted at 1,795 CNY/ton, while non-standard grades were priced at 1,520 CNY/ton—both figures representing cash-inclusive ex-factory prices on a dry basis, including taxes.

III. Market Forecast

Coke analysts believe that coke enterprises are expected to maintain their current market trend in the short term. However, they emphasize the need to continue monitoring macroeconomic sentiment, coking coal price movements, and steel mills' profit margins, as these factors will significantly influence coke prices in the coming period.