焦炭：首轮提涨暂时搁置，钢焦博弈加剧

Core Viewpoint - The first round of price increase for coke has been temporarily shelved due to weak demand in the steel industry, leading to a loose supply-demand situation for coke [1] Group 1: Price Increase Plans - Major coking plants planned to raise coke prices by 50-55 yuan per ton starting January 19, but steel mills have not accepted this increase [1] - The postponement of the price increase is attributed to the significant weakness in demand from the steel sector [1] Group 2: Supply and Demand Dynamics - The overall supply-demand situation for coke remains loose, with insufficient upward price momentum [1] - Coking plants are under pressure due to losses, yet production remains stable, and some segments are increasing their willingness to sell [1] - Steel mills are maintaining a just-in-time purchasing strategy due to high inventory levels and poor profit margins, showing no clear intention to increase stock [1] Group 3: Market Conditions - The anticipated decline in pig iron production is influenced by safety incidents and inspections at local steel enterprises [1] - The black futures market has seen a notable decline, contributing to weakened market sentiment [1]