On January 4, the coke market in Qujing operated on a weaker note. The current price for second-grade coke is reported at 1,845 yuan/ton, while off-grade coke is quoted at 1,570 yuan/ton, both on a dry basis, ex-factory, cash inclusive of tax. PriceSeek's analysis of coke shows a bearish score of -1. In the spot market, coke prices in the Qujing region are trending weaker, with second-grade coke at 1,845 yuan/ton and off-grade coke at 1,570 yuan/ton, both declining compared to previous periods. This reflects weak market supply and demand, with oversupply or insufficient demand putting pressure on prices. In the futures market, the main coke contract, such as J2605, closed at 1,693 yuan/ton, down 16.5 yuan, with a trading volume of 20,439 lots and an open interest of 32,379 lots. The changes in open interest indicate cautious market sentiment. The J2601 contract closed at 1,499 yuan/ton, down 63.5 yuan, with a trading volume of 1,807 lots and a decrease in open interest by 1,019 lots, suggesting increased short-term selling pressure. Overall, both spot and futures prices are trending downward, with bearish factors dominating, and short-term prices are expected to remain under pressure.