April Coking Coal Market Supply and Demand Balance

April 28th News

I. Price Trends

According to the commodity market analysis system: On April 28, 2026, the average price of quasi-first grade metallurgical coke was 1,560 CNY per ton. Traders and steel mills are being cautious in their purchases, mainly buying according to demand. The price of coke is gradually stabilizing after a decline, and currently, the overall operating rate of coke producers in China is at a high level.

II. Market Analysis

Market Trading: At the beginning of the month, the market trading atmosphere was relatively subdued, with traders and steel mills adopting a cautious procurement approach, mostly opting for on-demand purchases. As the downward price trend became evident, market sentiment turned decidedly wait-and-see. On the steel mill side, given that their own inventories were at reasonable levels and their outlook for future coking coal prices was bearish, their purchasing enthusiasm remained low. Meanwhile, coking enterprises faced pressure to sell off their inventories; in order to boost sales, some companies began proactively lowering their prices.

Market-wise: In April, the overall trend of coke prices in the Chinese market was stable at first and then declined. At the beginning of the month, coke prices were relatively stable, with the market in a phase of supply and demand competition. The coke prices in the main regions fluctuated within a certain range. However, as the supply and demand dynamics changed mid-month, coke prices began to decline. By the end of the month, coke prices in some areas had decreased by 100-200 CNY/ton compared to the beginning of the month. The degree of price decrease varied across different regions. In North China, due to factors such as steel mill production limits, the price decrease was more pronounced. In East China, the price decrease was relatively smaller but still showed a downward trend.

Steel Demand: The steel industry is the main downstream demand sector for coke. In April, the overall demand performance of the steel industry in China was poor. On one hand, the real estate market remained sluggish, with fewer new projects starting, leading to weak growth in steel demand. On the other hand, the progress of infrastructure construction projects was slow, making it difficult for steel consumption to be effectively released. To control costs, steel mills reduced their demand for coke. Some steel mills adjusted their production plans, lowering the blast furnace operating rates and reducing the purchase volume of coke.

III. Future Market Forecast

Coke analysts believe that the coke market in April faces dual pressures—oversupply and weak demand—and the future price trend is not optimistic. Enterprises and investors need to closely monitor market developments and adjust their business strategies accordingly in a timely manner.