焦炭盘面升水 价格短期大概率维持反弹节奏

Group 1 - In the core coking coal region of Queensland, Australia, developers invested only AUD 55 million (approximately USD 36 million) in coal exploration projects from July to September, marking a year-on-year decline of 7.9% and the fifth consecutive quarter of decreased exploration spending, primarily due to weak coal prices and high royalties [1] - The Powder River Basin (PRB) coal production increased by 5.8% year-on-year in the third quarter, reaching slightly over 60 million short tons (approximately 54 million metric tons), compared to 56.8 million short tons in the same period last year [1] Group 2 - The market has certain expectations for downstream restocking, leading to a slight price rebound during the day, with coking profits being generally average and daily production slightly increasing [3] - Coking coal prices have seen a reduction of 50/55 CNY per ton, with secondary metallurgical wet coke A<13.5, S0.8 priced at 1280 CNY per ton and secondary metallurgical dry coke at 1541 CNY per ton, effective from December 1 [1][3] - The demand for iron and steel continues to decline seasonally, with expectations for further price reductions in coking coal, while upstream supply is decreasing due to the shutdown of some coal mines in Shanxi [3]