Coke market prices show strong performance in China

May 26th News

I. Price Trends

According to the commodity market analysis system: On May 26, 2026, the average price of quasi-first grade metallurgical coke was 1,681 CNY/ton. The core cost of coke is coking coal, which first fell and then rose during the week, with a significant jump on Friday. The cost support shifted from weak to strong, significantly lifting at the end of the trading session.

II. Market Analysis

Market Trading: Coking Coal: On May 25, coking coal prices remained relatively stable. On the same day, coking coal futures hit the daily limit-up. In spot markets in major producing regions, prices rose by 30 to 80 CNY per ton. Downstream buyers were actively seeking supplies, and market trading activity was robust. Affected by rising raw material prices, coking enterprises now anticipate a significant upward trend in coking coal prices. On May 25, steel mills issued announcements raising prices by 50 CNY per ton for wet-quenched coking coal and 55 CNY per ton for dry-quenched coking coal, effective from midnight on May 26, 2026. Given the substantial increase in raw material prices and the strong potential for further price hikes, there is growing sentiment that coking coal prices will continue to rise. It is expected that coking coal prices will remain firm in the near term.

3. Future Market Forecast

Coke analysts believe: The short-term trend of coke prices is clearly on the rise. In the past week, China's coke market first stabilized and then strengthened, with a pull-up at the end, and the fourth round of spot price increases has been implemented. Futures have surged significantly, with the average price of mainstream spot goods for the week being about 1,620 CNY/ton (tax-inclusive, quasi-first grade wet quenched coke), up 3.5% week-over-week; the main futures contract saw a price increase of over 8% for the week. The core drivers are the increased coking coal costs due to the mine disaster in Shanxi and the steel mills' need to replenish their inventories. A short-term strong pattern has been established.