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Recent fluctuations in domestic coke prices suggest that the overall market has remained stable, with only minor declines observed in certain regions. This week, areas such as Northeast China, Central China, and South China have shown steady performance, with little to no changes in transaction prices. In contrast, Hebei and Shandong continued their downward trend from last week, with a drop of approximately RMB 30 per ton. Despite this, the overall stability in Shandong was maintained, with local markets like Linfen and Weifang showing minimal movement.
The recent price adjustments by major steel companies have also contributed to a slight decline in market activity, with steelmakers adopting a wait-and-see approach. In Anhui and Xuzhou, the coke market has remained weak but stable post-holiday, though short-term trends remain unclear. The influence of these price adjustments is still being felt, particularly in key production areas.
Looking ahead, the expectation for May’s coke market is not as strong as previously anticipated. With the end of the destocking phase at steel mills, the market may face a weaker outlook in the near term. Some regions are still vulnerable to further price reductions due to ongoing supply chain adjustments and lower demand from downstream industries.
Current reference prices reflect this cautious market environment:
- In Shanxi, secondary metallurgical coke factory tax prices range from 1,200 to 1,230 yuan/ton, while first-grade metallurgical coke truck tax prices are between 1,230 and 1,280 yuan/ton.
- In Hebei, secondary metallurgical coke prices are around 1,330 yuan/ton, with Tangshan's first-grade coke reaching 1,410–1,450 yuan/ton (to the factory).
- In Xingtai, first-grade metallurgical coke is priced at 1,380–1,410 yuan/ton, while Tangshan's first-grade coke is between 1,480–1,530 yuan/ton.
- In Henan, two-grade metallurgical coke factory car plate prices stand at 1,300 yuan/ton, and quasi-grade coke is at 1,350 yuan/ton.
- In parts of Shandong, where prices fell this week, two-grade coke is around 1,350–1,380 yuan/ton, and quasi-grade coke is at 1,450 yuan/ton (ex-factory tax).
- In the Northeast, two-grade coke factory prices are between 1,420–1,450 yuan/ton, while first-grade coke is priced at 1,520–1,550 yuan/ton.
Overall, the coke market remains in a delicate balance, with limited upside potential and some risks of further softening in specific regions.
