焦炭，提价

Core Viewpoint - The coking coal and steel industries are experiencing a price increase for coke, driven by rising prices of upstream coking coal and downstream steel products, indicating a potential profit-sharing opportunity across the supply chain [1][2][4]. Group 1: Price Trends - Coking coal prices have been on the rise, with the main contract closing at 1117 RMB/ton on July 30, showing a continuous increase since June [2]. - The price of coking coal in Lüliang surged to 1411 RMB/ton by July 30, reflecting a rapid increase since late July [2]. - Steel prices have also increased, with rebar closing at 3315 RMB/ton on July 30, up 13.8% from the annual low of 2912 RMB/ton on June 3 [2]. - Hot-rolled coil prices reached 3483 RMB/ton, marking a 15% increase from the year's low, with overall upward trends since June [2]. - The Shanghai Steel Union reported that the prices for 18mm rebar, 4.75mm hot-rolled coil, and 1mm cold-rolled coil have risen by 8.4%, 9.9%, and 8.4% respectively compared to their annual lows [2]. Group 2: Industry Dynamics - The China Iron and Steel Association indicated that the government will continue to implement policies to regulate crude steel production, which is expected to alleviate supply-demand imbalances in the second half of the year [4]. - The Central Political Bureau emphasized the need to promote a unified national market and optimize market competition, which may impact the operational landscape for steel and coking industries [4]. - The Shanghai Steel Union's coking coal price index has shown a downward trend over the past three years but has recently rebounded, reflecting a clear correlation with rising coking coal prices [4][6]. Group 3: Supply Chain Insights - The supply of raw materials for coke is gradually improving, with high levels of pig iron production and strong pricing intentions from coal mines [6]. - The average loss per ton of coke for 30 independent coking plants across the country is reported at 54 RMB, indicating financial pressures within the industry [6].