煤焦：矿端库存下降明显，盘面震荡运行

Group 1: Report's Industry Investment Rating - Not mentioned Group 2: Report's Core View - Market speculation sentiment has cooled, coal prices are gradually returning to rationality, but short - term fundamental improvement supports coal prices to run strongly with still sharp price fluctuations, and it is recommended to participate cautiously [3] Group 3: Summary by Related Content Coal and Coke Market Situation - Yesterday, coal and coke futures prices fluctuated widely with intense long - short game; coking coal spot remained strong, and coke prices were stable after the fifth round of price increase [2] Supply - side Situation - Shanxi is continuously advancing the in - depth verification of coal mine over - production. Many coal mines have voluntarily reduced production. With the approaching of the September parade, the safety supervision situation is severe, and short - term coal mine production increase is limited [2] - This week, the daily output of raw coal from 523 coking coal sample mines was 1.883 million tons, a decrease of 53,000 tons compared with the previous week. Among them, the daily output of raw coal in Shanxi was 1.059 million tons, a decrease of 38,000 tons compared with the previous week [2] Inventory Situation - The structural inventory pressure of coking coal has been significantly relieved. The raw coal inventory of 523 coal mines is 476,500 tons, a decrease of 224,500 tons from the high point in June; the clean coal inventory is 245,700 tons, a decrease of 254,300 tons from the high point in June [3] Demand - side Situation - This week, the raw material replenishment actions of coking plants and steel mills have slowed down. After the low - level rebound of the available days of coking coal inventory in the plants, it has stabilized [3] - This week, the daily average pig iron output of steel mills was 2.4032 million tons, a decrease of 3,900 tons compared with last week and an increase of 86,200 tons compared with last year [3]