“今日提价”！多家企业发函，双焦期价要涨？

Core Viewpoint - Multiple coking enterprises have announced price increases, marking the fourth round of price hikes due to rising coking coal prices and increasing losses among coking companies [1][4]. Group 1: Price Increases - Coking enterprises have implemented three previous price increases, with the latest increase set to take effect on November 10, 2025, raising wet quenching coke prices by 50 yuan per ton and dry quenching coke prices by 55 yuan per ton [3]. - Analysts predict that there could be 4 to 5 rounds of price increases in the fourth quarter, driven by the need to restore profits amid rising coking coal prices [4]. Group 2: Supply and Demand Dynamics - The current supply of coking coal and coke is tight, with downstream procurement being active, leading to a short-term supply-demand imbalance [4]. - As of October, both coking coal and coke inventories have decreased, with total social inventory of coke down by 2% year-on-year and coking coal down by 5% year-on-year [4]. Group 3: Production Challenges - Certain coal mines in Shanxi have reduced production due to safety issues, and there is a significant decrease in output from open-pit coal mines in Inner Mongolia [5]. - The operating rate of domestic coking coal mines continues to decline, and strict safety and environmental inspections are expected to limit recovery in coal production [5]. Group 4: Market Outlook - The futures market for coking coal and coke is experiencing high volatility, with differing opinions on future trends among industry experts [6]. - The market is currently characterized by a balance between supply and demand, but potential negative feedback from steel demand could impact future pricing [7].