MYSTEEL: Overcapacity to drive China's met coke profits low in 2026

The elusive profitability that has frustrated China's metallurgical coke sector in recent years is expected to continue pressuring the makers in 2026, with excess domestic capacity remaining the core of their problems, Mysteel predicts in its annual report on the commodity published recently.

With their businesses losing money for about three quarters of last year, the 30 merchant met coke makers under Mysteel's nationwide survey recorded an average loss of Yuan 17.4/tonne ($2.5/t) on coke sales during 2025. Although this marked an improvement of Yuan 2.3/t from the previous year, the consecutive