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安全检查和环保等影响下 焦煤维持反弹之势
Jin Tou Wang·2025-07-02 07:11

Core Viewpoint - The coal market is experiencing a rebound in prices due to supply constraints and increased demand from steel and coke enterprises, with the main futures contract reaching 840.0 yuan/ton, up 2.75% [1]. Supply and Production - A major coal mine in Changzhi is undergoing maintenance from June 28 to July 12, affecting a total of 375,000 tons of raw coal production [2]. - The overall coal supply is gradually recovering as some previously reduced or suspended coal mines in the Ordos region are resuming production [2]. Market Pricing - On July 1, the auction price for low-sulfur coke coal in the Qinyuan market increased slightly, with a starting price of 1,100 yuan/ton and an average transaction price of 1,128 yuan/ton, reflecting a 5 yuan/ton increase from the previous auction [2]. Industry Insights - Xinyi Futures notes that the inventory at mines is showing signs of a turning point, with steel and coke enterprises slightly exceeding expectations in restocking, leading to a recovery in the coal supply-demand structure [3]. - Yide Futures highlights that the fourth round of price reductions for coke has compressed profit margins for coke enterprises, while the supply of coke is declining. However, the demand from steel mills remains resilient, supporting the raw material needs [3]. - The overall market for coking coal is improving, with a notable decrease in the rate of unsold auction lots and increased purchasing activity from intermediate washing plants and traders [3].