终端需求成色仍是核心 预计焦炭价格短期反弹

Group 1 - The core viewpoint indicates that the metallurgical coke prices are stable but weak in the market, with specific prices reported for different grades of coke [1] - As of June 4, the prices for various grades of coke are as follows: - Wet quenching metallurgical coke: 1100 CNY/ton - Dry quenching metallurgical coke: 1320-1330 CNY/ton - First-grade dry quenching metallurgical coke: 1420-1440 CNY/ton [1] - The national coke price overview shows a range of prices for different grades and brands, with the highest market price for first-grade metallurgical coke at 2500 CNY/ton [2] Group 2 - On June 4, the futures market for coke saw the main contract closing at 1367.5 CNY/ton, with a daily increase of 5.72% and a trading volume of 46,507 contracts [2] - The coal inventory in Qinhuangdao recorded 6.63 million tons, a decrease of 50,000 tons from the previous trading day [3] - The Dalian Commodity Exchange reported a decrease in coke futures warehouse receipts by 10 contracts compared to the previous trading day [4] Group 3 - According to Hengtai Futures research, the profit margins for steel mills have contracted, leading to a decrease in procurement enthusiasm and a slowdown in inventory replenishment [5] - The core of the fundamental adjustment remains the quality of terminal demand, with expectations for a short-term rebound in coke prices [5] - The recommendation for traders is to consider short positions during mid-term rebounds [5]