整体供需面矛盾依然突出 焦煤期货短期或震荡整理

Group 1 - The coal futures market in China is experiencing a downward trend, with coking coal futures showing weak performance and a decline of approximately 2.29% [1] - The main coking coal futures contract opened at 1175.0 yuan/ton, fluctuating between a high of 1176.0 yuan and a low of 1142.0 yuan during the trading session [1] Group 2 - Financial institutions indicate that domestic coal mine operations have returned to normal, leading to an increase in coking coal production and a rise in the enthusiasm of independent washing plants [2] - Demand for coking coal is recovering due to winter storage replenishment needs from coking steel enterprises, but the coking coal 2605 contract has broken below the 10-day moving average support, suggesting a short-term oscillating trend [2] - The market is advised to monitor production and safety inspections at coal mines, as well as the procurement pace and iron water production changes from downstream [2] - In the context of weak terminal demand and increased maintenance at steel mills, both iron water production and operating rates have declined, leading to a buildup of coking coal inventory at steel mills, which suppresses raw material demand [2] - Despite expectations for winter storage replenishment before the Spring Festival, the overall supply-demand imbalance remains prominent, with coking coal prices expected to maintain a weak oscillating trend [2]