Group 1 - The core viewpoint of the articles indicates that both coking coal and coke prices have surged over 4% due to multiple factors, including production halts and rising expectations of demand during the traditional peak season [1][2] - A coal mine in Shanxi province has halted production, with a capacity of 1.2 million tons and a normal daily output of approximately 3,000 tons, contributing to supply concerns [1] - The recovery in iron and steel production has led to increased demand for coking coal and coke, with the national coking plant operating rate reaching 75.92%, the highest level this year [1][2] Group 2 - Despite a slight recovery in the coal production, coal inventories have decreased by 13.56 million tons to 254.52 million tons, driven by rapid recovery in downstream steel production [2] - The overall demand for steel remains weak, with apparent consumption of the five major steel products at 8.43 million tons, a year-on-year decline of 459,400 tons [2] - The profitability of steel mills is under pressure due to high production and low demand, with current profits for long-process rebar and hot-rolled coils near breakeven [2][3] Group 3 - The market for finished steel products has not recovered as quickly as expected, with overall demand still insufficient despite some recovery in export volumes [3] - Coking plants have reduced their inventory levels to 8.84 million tons, with coking coal inventory days dropping below 10 days, indicating a shift towards consumption rather than replenishment [3] - Future price trends for coking coal may not be overly pessimistic, as potential supply reduction policies and macroeconomic factors could provide support [4]
利好预期支撑,双焦大幅上涨
Qi Huo Ri Bao·2025-09-16 00:54