I. In April, profits of industrial enterprises above designated size increased by 24.7% year on year.

According to economic data released by the National Bureau of Statistics, in April, the value added of industrial enterprises above designated size increased 4.1% year on year and 0.05% month on month; total retail sales of consumer goods reached RMB 3.7247 trillion, up 0.2% year on year; nationwide fixed asset investment (excluding rural households) declined 2.36% month on month; profits of industrial enterprises above designated size rose 24.7% year on year; as of the end of April, accounts receivable of such enterprises stood at RMB 27.44 trillion, up 7.2% year on year, while finished goods inventories totaled RMB 6.95 trillion, an increase of 6.7%. From January to April, the value added of industrial enterprises above designated size grew 5.6% year on year; total retail sales of consumer goods amounted to RMB 16.4941 trillion, up 1.9% year on year; nationwide fixed asset investment (excluding rural households) reached RMB 14.1293 trillion, down 1.6% year on year; and the total profits of industrial enterprises above designated size totaled RMB 2.43584 trillion, up 18.2% year on year. Among these, the ferrous metal smelting and rolling industry (the steel sector) reported total profits of RMB 7.58 billion, a 51.5% year-on-year decline, while the petroleum, coal, and other fuel processing industry (including coking) posted total profits of RMB 40.42 billion, compared with a loss in the same period last year.

II. Production of Pig Iron, Crude Steel, and Coke

In April, national coke production totaled 41.529 million tonnes, remaining unchanged year on year. Among them, key integrated steel‑coke enterprises produced 9.3552 million tonnes of coke, down 3.14% year on year, while other coking enterprises output 32.1748 million tonnes, up 0.95% year on year. Pig iron production reached 70.693 million tonnes, a 3.6% decline compared with the same period last year, and crude steel production stood at 83.629 million tonnes, down 2.8% year on year. From January to April, national coke output amounted to 167.407 million tonnes, up 2.0% year on year. Key integrated steel‑coke enterprises produced 37.8168 million tonnes, a 1.93% decrease, while other coking enterprises generated 129.5932 million tonnes, an increase of 3.21%. Pig iron production totaled 282.281 million tonnes, down 3.1% year on year, and crude steel production reached 331.122 million tonnes, a 4.1% decline.

III. Import and Export Trade Situation

According to statistics from the General Administration of Customs, in April, total imports and exports amounted to US$634.06 billion, up 18.7% year on year and 7.2% month on month; exports totaled US$359.44 billion, up 14.1% year on year and 12.0% month on month; imports reached US$274.62 billion, up 25.3% year on year and 1.5% month on month; the trade surplus stood at US$84.82 billion. From January to April, total imports and exports totaled US$2.32607 trillion, up 18.2% year on year; exports amounted to US$1.33688 trillion, up 14.5% year on year; imports reached US$989.19 billion, up 23.6% year on year; and the trade surplus widened further to US$347.7 billion. During the first four months, China’s foreign trade demonstrated continued resilience, with brisk growth in goods trade and a substantial year-on-year increase in overall import and export volumes, as both exports and imports posted double-digit growth.

IV. Coking Coal Export and Import Situation

In April, coke exports totaled 762,300 tonnes, up 39.13% year on year and 47.27% month on month; the average price was USD 172.96 per tonne, down 8.88% year on year but up 4.38% month on month. The top three importing countries were Indonesia, Japan, and India, accounting for a combined 492,200 tonnes, or 64.56% of total imports. Imports from other countries and regions amounted to 270,100 tonnes, representing 35.44% of total exports. From January to April, coke exports reached 2.714 million tonnes, up 17.13% year on year, with an average price of USD 169.81 per tonne, down 8.95% year on year. The leading importers were Indonesia, Japan, and South Korea, collectively purchasing 1.683 million tonnes, or 62.01% of total imports. Imports from other countries and regions totaled 1.031 million tonnes, accounting for 37.99% of overall exports.

In April, coke imports totaled 22,516 tonnes, down 50.81% year on year and 18.15% month on month; the average price was USD 219.58 per tonne. Four countries exported coke to China in April: Indonesia, Japan, Russia, and France, with Indonesia accounting for 22,500 tonnes. From January to April, coke imports reached 191,000 tonnes, up 153.65% year on year, at an average price of USD 212.98 per tonne, a year-on-year increase of 8.41%. During this period, six countries exported coke to China; the top three were Indonesia, Mongolia, and Germany, collectively supplying 191,000 tonnes. Of this amount, Indonesia alone accounted for 190,200 tonnes, or 99.58% of total imports, while the remaining five countries together shipped only 870 tonnes.

V. Domestic Supply and Demand for Coking Coal and Import Situation

In April, domestic supply of coking coal (excluding that used for semi‑coke production) totaled 38.76 million tonnes, down 1.27% year on year and 0.08% month on month. Coking coal consumption reached 49.74 million tonnes, up 0.99% year on year and down 0.05% month on month. From January to April, domestic supply of coking coal (excluding that used for semi‑coke production) amounted to 156.02 million tonnes, a 0.33% decline year on year, while coking coal consumption stood at 200.90 million tonnes, up 2.43% year on year.

In April, coking coal imports totaled 11.30 million tonnes, up 27.07% year on year but down 9.04% month on month. The average price was $97.28 per tonne, up 0.08% year on year and down 4.69% month on month. The top three suppliers to China were Mongolia, Russia, and Australia, which together accounted for 10.85 million tonnes, or 95.98% of total imports. The remaining eight countries exported 454,000 tonnes, representing 4.02% of the total. From January to April, coking coal imports reached 43.55 million tonnes, a year-on-year increase of 19.89%, with an average price of $101.37 per tonne, down 11.51% from the same period last year. The top three exporters to China were Mongolia, Russia, and Australia, collectively supplying 40.53 million tonnes, or 93.05% of the total. The other eleven countries exported 3.02 million tonnes, accounting for 6.95% of overall imports.

VI. Domestic Coking Product Market Trends and Brief Analysis

In April, the average monthly price of coke stood at RMB 1,364.40 per ton, up 4.35% from the previous month. The benchmark price for quasi‑first‑grade mainstream coke ranged from RMB 1,330 to RMB 1,450 per ton, while that for quasi‑first‑grade dry‑quenched coke was RMB 1,600 to RMB 1,745 per ton. During the month, two rounds of price hikes were implemented, with a cumulative increase of RMB 100–110 per ton. Meanwhile, coking coal prices remained relatively stable, resulting in only modest changes in furnace‑charge costs. Following the first round of increases, most coking enterprises operated profitably, with only a small minority hovering at or slightly below the break‑even point; after the second round, virtually all producers were profitable. Throughout the month, plant utilization rates gradually rose, and as the peak consumption period of “Golden March and Silver April” approached, pig iron output continued to rebound. Steel mills maintained strong production momentum, driving steady demand for coke. With the May Day holiday looming, steelmakers’ inventory‑building intentions strengthened, and most coking firms reported smooth sales. Overall, coking inventories declined slightly over the month, and the supply‑demand balance continued to improve.

On the upstream coking coal front, the average market price in April stood at RMB 1,332.53 per ton, up 3.63% month-on-month. Market overview: After a decline earlier this month, domestic coking coal prices staged a narrow rebound. As of end-April, the delivered‑on‑truck price for low-sulfur coking coal in Shanxi was RMB 1,527 per ton, down RMB 54 per ton from the previous month; the ex‑factory price for low-sulfur 1/3 coking coal in Puxian was RMB 1,230 per ton, down RMB 30 per ton month-on-month; the delivered‑on‑truck price for high-sulfur fat coal in Lingshi remained unchanged at RMB 1,400 per ton; and the delivered‑on‑truck price for gas coal in Jining rose RMB 20 per ton to RMB 1,060 per ton. On the import side, the forward CIF price for prime coking coal was USD 218 per ton, down USD 2 per ton month-on-month. In the spot market at ports, the port‑pickup price for imported prime coking coal (from Canada) was RMB 1,630 per ton, up RMB 40 per ton compared with the previous month.

On the downstream steel front, in April, pig iron output at steel mills continued to climb to a new high, leading to an overall increase in steel supply. With warmer weather boosting end‑user开工 levels, steel consumption saw a seasonal rebound, and the release of pre‑holiday restocking demand further supported stronger demand. On the export side, rising international coal prices gave domestic coking coal a distinct price advantage, translating into cost advantages for both steel and coke. Coupled with higher overseas freight rates, this pushed up the export costs of Indian steel, while Chinese steel exports performed relatively well. Overall, in April, the steel supply‑demand balance continued to improve, with prices remaining broadly firm. As of April 28, Shanghai rebar (20 mm) was trading at RMB 3,240 per tonne, up RMB 40 per tonne from the end of March—a 1.3% increase; Shanghai hot‑rolled coil (3 mm) stood at RMB 3,400 per tonne, up RMB 110 per tonne from the end of March, a 3.3% rise.

In the coking‑byproduct market, specifically for crude benzene and coal tar, during the first half of April, international crude oil prices continued to rise, pushing up the spot prices of pure benzene and styrene; hydrogenated benzene followed suit. Amid favorable news, the crude benzene market also saw price increases. In the latter half of the month, as geopolitical tensions eased and international crude oil prices tumbled before stabilizing around $90 per barrel, declining port inventories of pure benzene provided support, leading to mixed movements in pure benzene and hydrogenated benzene prices. Meanwhile, downstream benzene hydrogenation producers enjoyed reasonable profit margins and maintained relatively high operating rates, boosting demand for crude benzene. Throughout April, the domestic coal tar market generally exhibited a stable‑to‑slightly‑weak trend, with prices fluctuating downward. This month, mainstream producing regions—Shanxi, Hebei, and Shandong—reported ex‑factory cash prices ranging from RMB 3,850 to RMB 4,200 per ton.

In April, the average price of coking premium coal was RMB 1,448 per ton, up 3.52% month-on-month, while the average price of coking coal stood at RMB 1,333 per ton, a month-on-month increase of 3.63%.

In April, the average price of quasi‑Grade‑1 coke was RMB 1,562 per tonne, up 3.88% month-on-month; the highest price reached RMB 1,810 per tonne, while the lowest was RMB 1,348 per tonne. The average price of Grade‑2 coke stood at RMB 1,415 per tonne, a month-on-month increase of 3.17%; its highest price was RMB 1,806 per tonne, and its lowest was RMB 1,198 per tonne.

In April, the average price of coal tar was RMB 4,065 per ton, down 1.12% month-on-month, with a peak of RMB 4,420 per ton and a trough of RMB 3,400 per ton. The price of crude benzene stood at RMB 6,265 per ton, up 9.83% month-on-month, ranging from a high of RMB 6,487 per ton to a low of RMB 5,602 per ton.

VII. Completion Status of Chemical Product Output and Technical-Economic Indicators by Member Units

In April 2026, member enterprises reported coke production of 21.1664 million tonnes, down 0.61% year on year; coal tar production stood at 861,700 tonnes, unchanged from the previous year; crude benzene output reached 247,800 tonnes, up 1.59% year on year; light benzene production totaled 20,500 tonnes, an increase of 4.71% year on year; ammonium sulfate output was 229,600 tonnes, down 2.20% year on year; methanol production amounted to 432,600 tonnes, a decline of 5.07% year on year; synthetic ammonia production came in at 156,600 tonnes, down 5.49% year on year; benzene processing volume reached 215,100 tonnes, up 13.57% year on year; and coal tar processing volume totaled 333,600 tonnes, an increase of 6.44% year on year.

Coal blending index performance: Ad stands at 9.83%, up 0.01 percentage points year on year; St,d is 0.88%, down 0.01 percentage points year on year; Vdaf is 27.72%, up 0.39 percentage points year on year; and the G value is 74.00, down 0.01 percentage points year on year.

Coke quality indicators: M40 stands at 87.56%, down 0.10 percentage points year on year; M10 is 5.88%, up 0.04 percentage points year on year; CSR is 66.91%, down 0.22 percentage points year on year; CRI is 23.36%, up 0.29 percentage points year on year; Ad is 12.70%, up 0.02 percentage points year on year; St.d is 0.79%, down 0.01 percentage points; and the dry quenching rate is 96.88%, up 0.34 percentage points year on year.

Chemical product recovery rates: coal tar recovery stood at 3.15%, up 0.03 percentage points year over year; crude benzene recovery was 1.01%, an increase of 0.04 percentage points year over year; light benzene recovery reached 0.87%, up 0.07 percentage points year over year; and ammonium sulfate recovery was 1.01%, a rise of 0.01 percentage point year over year.

Performance of key indicators: Unit-product energy consumption for coke was 117.48 kgce/t, down 4.17 kgce/t year on year; electricity consumption per ton of coke was 86.72 kWh, up 3.91 kWh year on year; and fresh water consumption per ton of coke was 1.37 m³, up 0.03 m³ year on year.

Source: China National Association of Food Additives and Ingredients Website

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