焦炭本身供需相对平衡 跟随焦煤偏强运行

Group 1 - Hebei market steel mills have reduced the procurement price of coking coal by 50/55 yuan per ton, with the adjusted prices being 1540 yuan per ton for first-grade wet quenching coke and 1900 yuan per ton for first-grade dry quenching coke, effective from September 15 [1] - As of September 17, the main contract for coking coal futures closed at 1734.5 yuan per ton, with a daily increase of 0.46%, reaching a high of 1748.0 yuan and a low of 1710.0 yuan, with a trading volume of 24,917 lots [2] - The National Bureau of Statistics reported that China's coking coal production in August 2025 was 42.597 million tons, a year-on-year increase of 3.9%, with a cumulative production of 334.058 million tons from January to August, up 2.8% year-on-year [3] Group 2 - As of September 16, the Dalian Commodity Exchange had 1,550 coking coal futures warehouse receipts, an increase of 30 receipts compared to the previous trading day [4] - According to Zhonghui Futures research report, the energy bureau's inspection of coal overproduction issues has begun to take effect, leading to the suspension of operations at some coal mines for rectification. The second round of coking coal price reductions has been implemented, resulting in a decrease in coking profits, while coking enterprises maintain stable production. The output of pig iron has significantly rebounded, indicating high raw material demand. The supply and demand for coking coal are relatively balanced, following the strong performance of coking coal [5]