Ruida Futures(SZ:002961) Jin Tou Wang·2025-07-01 05:55Group 1 - The coal futures market in China is experiencing a downward trend, with coking coal futures showing a decline of 3.92% as of midday trading on July 1 [1] - Supply-side factors indicate that environmental inspections are nearing completion, leading to the gradual resumption of coal production in Shanxi, which may create a more relaxed market expectation for coking coal production [1] - Demand-side factors show that downstream industries are gradually restocking, with some premium coal types experiencing slight rebounds, while overall procurement remains demand-driven [1] Group 2 - Longjiang Futures notes that the supply-demand imbalance in the coking coal market has eased somewhat, but uncertainties remain due to policy disruptions on the supply side [2] - The market is expected to continue fluctuating in the short term, with a focus on monitoring the execution of environmental and safety regulations, the pace of imported coal arrivals, and the impact of steel mill profits on coking coal production [2]