Coking Coal Market Prices Remain Stable

November 24, News

I. Price Trends

According to the commodity market analysis system: On November 24, 2025, the average price was 1,538 CNY per ton. Currently, the coke market prices in China are mainly stable. On November 24, the metallurgical coke prices in Hancheng, China, remained steady, with the current price of quasi-first grade dry quenched coke at 1,700-1,720 CNY per ton, all cash and tax-inclusive ex-factory prices.

2. Market Analysis

Price Overview: On November 24, metallurgical coke prices in the Tangshan market remained stable. Currently, the mainstream transaction prices are as follows: fixed-price, top-charging, first-grade dry-quenched coke is quoted at 1,900 CNY/ton, while fixed-price, top-charging, first-grade dry-quenched coke sells for 1,970 CNY/ton—both prices are delivered ex-factory, cash, and inclusive of tax. Meanwhile, in the Tianjin Port market, metallurgical coke prices also stayed steady today, with premium first-grade coke priced at 1,670 CNY/ton and first-grade coke at 1,770 CNY/ton—both quoted as landed, acceptance-based prices. The coking coal market continues to face tight supply, providing some support at the cost end, while inventory levels within the market remain relatively stable. At the same time, demand shows moderate resilience.

Supply Side: In 2025, coking coal production is expected to decline to 488 million tons nationwide due to increased safety regulations—representing a reduction of approximately 16 million tons. However, given that policy priorities remain focused on ensuring supply stability, the actual tightening of output will likely be limited.

In terms of production capacity: In 2025, the capacity utilization rate in the main coking coal production areas of Shanxi and Inner Mongolia in China will be affected by fluctuations in steel demand. The utilization rate of large enterprises may be 15% higher than that of small and medium-sized enterprises.

III. Market Forecast

Coke analysts believe that in the short term, the coke market in China will maintain its current trend.