库存存在季节性回升趋势 焦煤中期维持区间运行

Core Viewpoint - The domestic coal futures market shows a predominantly positive trend, particularly in coking coal, which has experienced fluctuations with a notable increase of 3.7% in price [1] Group 1: Market Performance - Coking coal futures opened at 1190.5 CNY/ton, reaching a high of 1194.5 CNY and a low of 1172.0 CNY during the session [1] - The overall performance of coking coal indicates a strong upward trend, with market sentiment leaning towards bullish [1] Group 2: Institutional Insights - Hualian Futures suggests that while iron and steel production remains high, there are concerns about the ability of downstream steel demand to sustain this momentum, which may limit the rebound potential of coking coal prices [1] - Zhonghui Futures notes that coal production has rebounded to levels comparable to the same period last year, with imports remaining high, indicating an expectation of continued supply improvement [1] - Ruida Futures highlights that the upcoming 20th Central Committee meeting may influence market sentiment, while also noting that the operational rates at coal mines are increasing without significant inventory pressure [1]