Starting October 10, the Lüliang metallurgical coke market has entered a second phase of price reductions, with wet-quenched coke dropping by 100 yuan per ton and dry-quenched coke falling by 110 yuan per ton. These revised rates will take effect on October 12, bringing the total decline since the initial adjustment on October 1 to a range of 200 to 220 yuan per ton. This marks a rapid depreciation from September peak levels.
Current supply conditions show coke producers maintaining an approximate 80% operating rate while adhering to low-inventory sales strategies. On the demand side, daily hot metal production holds steady at 2.33 million tonnes, yet widespread operational losses among steelmakers have dampened procurement enthusiasm and triggered increased furnace maintenance schedules. The convergence of constrained downstream buying power and sustained producer adjustments underscores ongoing margin compression across the coking value chain, signaling continued near-term weakness in regional thermal coal-to-coke pricing dynamics.