Group 1 - The domestic futures market for black commodities has generally weakened, with coking coal main contract dropping over 4%, currently priced at 1164.5 yuan/ton [1] - According to the China Iron and Steel Association, the floating value of long-term coking coal contracts is projected to increase by 10 yuan/ton, a rise of 0.7% from August 2025 [2] - The Ministry of Industry and Information Technology and four other ministries have released a plan to stabilize growth in the steel industry, emphasizing the need to ensure supply and stabilize prices for coking coal and other raw materials, which may ease supply-side tightening expectations [2] Group 2 - Institutions report a slight increase in coking coal production, with pre-holiday inventory replenishment nearly complete, leading to a potential weakening in spot auction transactions [3] - Coking coal total inventory has significantly increased, while production-side inventory has slightly decreased, with mines resuming operations amid strict production checks [3] - The market outlook suggests that the difficulty in maintaining coking coal prices will increase, with expectations of price fluctuations in the near term [3]
节前补库情绪基本完毕 焦煤面临一定下行压力
Jin Tou Wang·2025-09-29 06:12