宏观市场情绪偏强，双焦期货领涨黑色系，后续价格能否延续上行？

Group 1 - The steel industry is experiencing a significant price increase in coking coal and coke, driven by macroeconomic narratives and government initiatives to combat "involution" in the sector [1][4] - The China Iron and Steel Association (CISA) has emphasized the need to control capacity and eliminate backward production capacity to prevent overcapacity risks in the steel industry [1][2] - Coking coal imports increased by 23.31% month-on-month in June, reaching 9.10842 million tons, although this represents a nearly 8% year-on-year decline [1] Group 2 - The operating rate of coking coal mines has risen to 85.5%, reflecting a recovery in production as safety and environmental checks ease [2] - The market for coking coal remains strong, with a notable increase in inventory levels among independent coking enterprises, which rose by 5.21% to 8.9235 million tons [2] - The sentiment in the market is resilient, with downstream steel and coke enterprises actively replenishing their coal inventories [2][3] Group 3 - Futures market expectations are bullish for both coking coal and coke, with analysts predicting continued price increases due to strong demand and limited supply recovery [3][4] - The first round of price increases for coke has been implemented, and there are expectations for a second round as coking enterprises seek to improve profitability [4][5] - The overall market sentiment remains positive, with speculation and rigid demand providing effective support for coking coal and coke prices [5][6]