焦炭第四轮提降开启 盘面低位窄幅震荡运行

Group 1 - The main futures contract for coke closed at 1715.0 CNY/ton on December 30, showing a slight increase of 0.44% [1] - On December 29, some steel mills in Hebei announced a reduction in prices for wet and dry quenching coke by 50 CNY/ton and 55 CNY/ton respectively, effective from January 1, 2026, marking the start of the fourth round of price reductions for coke [2] - The current prices for secondary metallurgical coke A<13.5, S0.8 in the Uihai market are stable at 1180 CNY/ton, while high-sulfur metallurgical dry quenching coke A<13.5, S1.0 is priced at 1456 CNY/ton, both being ex-factory cash-inclusive prices [2] Group 2 - According to Everbright Futures, the fourth round of price reductions for coke has officially begun, with some steel mills in Xingtai, Tianjin, Tangshan, and Shijiazhuang reducing prices by 50-55 CNY/ton. The recent slight decline in coal prices has left coke enterprises in a marginal profit state, with some facing losses, but overall production remains stable [4] - Guoxin Futures reported that after the three rounds of price reductions, some coke enterprises are experiencing losses, leading to a decrease in operational enthusiasm. Data from the Steel Association indicates a decline in the capacity utilization rate of sample coke enterprises, resulting in a contraction in coke supply. Although steel mills' iron water production continues to decline, the rate of decrease has narrowed, suggesting a slight easing of fundamental contradictions [4]