Jin Tou Wang·2025-07-11 06:21Core Viewpoint - The futures market for coke has seen a continuous increase, with the main contract reaching 1522.0 CNY/ton, marking a rise of 2.98% [1] Group 1: Market Conditions - The spot market for coke has also experienced price increases, with the price of premium metallurgical coke at Rizhao Port rising to 1260 CNY/ton, an increase of 30 CNY/ton from the previous period [2] - National statistics from 230 independent coke enterprises indicate a capacity utilization rate of 72.72%, down by 0.48%, and an average daily coke production of 51.29 thousand tons, a decrease of 0.34 thousand tons [2] - Coke inventory stands at 59.58 thousand tons, down by 2.02 thousand tons, while total coking coal inventory has increased to 752.44 thousand tons, up by 36 thousand tons [2] Group 2: Industry Insights - According to Ruida Futures, the fourth round of price reductions for coke has been implemented, with the raw material supply gradually improving and iron output remaining high [3] - The average loss per ton of coke for 30 independent coking plants is reported at 63 CNY/ton [3] - Zhongcai Futures notes that despite long-term supply-demand imbalances expected to worsen, the short-term fundamentals for coking coal remain strong, with a weekly decrease in coking coal inventory of 7.22% and a decrease in coke inventory of 9.67% [3]