煤焦：盘面震荡运行，关注煤矿复产进展

Group 1 - Report industry investment rating: Not provided Group 2 - The core view of the report: The change in coal mine production rhythm disturbs market sentiment. Currently, coal mine inventories remain at a high level, and coal price rebounds are hindered. Continuously monitor the resumption of coal mine production [3] Group 3 Logic - Yesterday, news of coal mine resumption cooled bullish sentiment, and coal and coke futures prices continued to decline in a volatile manner. On the spot side, after the fourth round of coke price cuts was implemented, the market remained stable. The coking coal market generally maintained a weak and stable operation [2] Market - According to institutional research, some previously shut - down coal mines in the Shanxi region have plans to resume production. A large shut - down mine in Xiangning is going through the resumption acceptance procedures, with an expected resumption time of July 3 - 4. The mine was shut down for rectification due to safety reasons on June 1, and as of now, it has been shut down for 30 days, affecting daily raw coal production by 620,000 tons. In addition, the current round of ecological and environmental protection supervision teams has completed their inspection in Shanxi, and shut - down coal mines will gradually resume production [2] Data - Last week, the daily output of raw coal from coal mines was 1.85 million tons, a week - on - week decrease of 45,000 tons and a year - on - year decrease of 203,000 tons. The daily output of clean coal was 738,000 tons, a week - on - week decrease of 5,000 tons and a year - on - year decrease of 35,000 tons. Raw coal inventory was 6.835 million tons, a month - on - month decrease of 179,000 tons; clean coal inventory was 4.631 million tons, a month - on - month decrease of 361,000 tons [3]