Group 1 - The domestic coal futures market shows a downward trend, with coking coal futures main contract opening at 1038.0 CNY/ton and experiencing a decline of 3.39% by midday, reaching a low of 1020.0 CNY/ton [1] - Mongolia's ER company sold 12,800 tons of Mongolian 3 coking coal at a price of 825 CNY/ton, down by 35 CNY/ton from the previous period, while ETT company's 64,000 tons of coking coal went unsold at a starting price of 71.8 USD/ton [1] - Mongolia aims to export 90 million tons of coal by 2026, with a target of 100 million tons by 2027, which will significantly enhance the capacity of ETT mines and the Gashun Sukhait railway [1] Group 2 - Some regions are experiencing limited supply of coking coal due to production controls and environmental restrictions, while steel mills are reducing production due to profit pressures, leading to decreased demand for coking coal [2] - Short-term outlook for coking coal futures remains weak with no significant improvement in fundamentals, while medium-term supply constraints persist [1][2] - Strategies suggest avoiding long positions temporarily and waiting for market stabilization, with a focus on coking coal spread trading [1]
短期基本面未有明显的改善 焦煤期货盘面延续弱势
Jin Tou Wang·2025-12-12 06:07