煤炭行业：炼焦煤价涨幅明显，三港口炼焦煤库存量显著下降

Investment Rating - The coal industry is rated as "Positive" [5] Core Insights - Coking coal prices have shown significant increases, with the comprehensive Chinese coking coal price index reaching 1340.16 CNY/ton, a month-on-month increase of 199.02 CNY/ton, representing a growth of 17.44% [1][10] - The total coking coal inventory at three major ports has decreased significantly, totaling 2.7084 million tons, down 443,000 tons from the previous month, a decline of 14.06% [1][17] - The production capacity utilization rate of independent coking enterprises has increased to 74.03%, up 1.16 percentage points month-on-month [2][20] Summary by Sections Coking Coal Prices - As of August 4, 2025, the Chinese coking coal price index is 1340.16 CNY/ton, with a month-on-month increase of 17.44% [1][10] - The price of Australian main coking coal at Jing Tang Port is 1540.00 CNY/ton, up 25.20% from the previous month [1][13] Inventory Levels - The total coking coal inventory at three ports has decreased to 2.7084 million tons, a decline of 14.06% month-on-month [1][17] - Independent coking plants have seen an increase in coking coal inventory to 8.3275 million tons, up 10.67% month-on-month [2][20] Production and Utilization - The average available days of coking coal for independent coking plants is 12 days, an increase of 9.09% month-on-month [2][20] - The overall production capacity utilization rate for independent coking enterprises is 74.03%, reflecting a positive trend in production activity [2][20]