Group 1 - The coal futures market in China is showing a strong upward trend, with coking coal futures reaching a peak of 1229.5 yuan/ton, reflecting an increase of approximately 6.48% [1] - The production impact from recent restrictions is limited, with a gradual recovery in coal mine operating rates. The demand side is cautious about external demand weakening, but the decline in iron and steel production is expected to be limited in the second half of the year [1][2] - The supply side is experiencing slight recovery due to the resumption of production in some coal mines, although certain areas still face production cuts due to accidents. The average daily customs clearance at the Ganqimaodu port has increased to 1263 vehicles [1] Group 2 - The focus of the coking coal market is shifting from being supply-driven to a dual-driven model of supply and demand. Despite the upcoming traditional peak season, previous inventory replenishment has consumed some demand potential [2] - The stable iron and steel production at around 2.4 million tons provides consistent support for raw material demand, and the overall inventory pressure for coking coal is manageable, indicating continued upward momentum in the market [2]
短期供需矛盾暂不突出 焦煤期货市场仍具上行动能
Jin Tou Wang·2025-08-25 06:09