瑞达期货焦煤焦炭产业日报-20250819

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - On August 19, the JM2601 contract of coking coal closed at 1,194.5, down 1.89%. The market sentiment declined due to trading volume restrictions. Fundamentally, the mine - end inventory turned from decreasing to increasing, and the clean coal inventory transferred downstream. The cumulative import growth rate has been declining for 3 consecutive months with a moderately high inventory. Technically, the daily K - line is between the 20 - day and 60 - day moving averages, and it should be treated as a volatile operation [2]. - On August 19, the J2601 contract of coke closed at 1,708.5, down 0.96%. The spot market started the seventh round of price increase. Macroscopically, the flood - control situation is still severe. Fundamentally, the raw material inventory rebounded, and the hot metal output was at a high level. The coking coal total inventory generally increased. The average profit per ton of coke for 30 independent coking plants was 20 yuan/ton. Technically, the daily K - line is between the 20 - day and 60 - day moving averages, and it should be treated as a volatile operation [2]. 3. Summary by Relevant Catalogs Futures Market - JM主力合约收盘价: 1,194.50 yuan/ton, up 7.00 yuan; J主力合约收盘价: 1,708.50 yuan/ton, up 6.50 yuan [2]. - JM期货合约持仓量: 931,492.00 hands, down 9,578.00 hands; J期货合约持仓量: 49,890.00 hands, down 1,555.00 hands [2]. - 焦煤前20名合约净持仓: - 116,069.00 hands, up 2,014.00 hands; 焦炭前20名合约净持仓: - 6,039.00 hands, down 193.00 hands [2]. - JM1 - 9月合约价差: 143.00 yuan/ton, down 9.50 yuan; J1 - 9月合约价差: 73.50 yuan/ton, up 5.50 yuan [2]. - 焦煤仓单: 0.00; 焦炭仓单: 820.00 [2]. Spot Market - 干其毛都蒙5原煤: 954.00 yuan/ton, down 42.00 yuan; 唐山一级冶金焦: 1,720.00 yuan/ton, unchanged [2]. - 俄罗斯主焦煤远期现货 (CFR): 147.00 dollars/wet ton, unchanged; 日照港准一级冶金焦: 1,520.00 yuan/ton, unchanged [2]. - 京唐港澳大利亚进口主焦煤: 1,500.00 yuan/ton, down 10.00 yuan; 天津港一级冶金焦: 1,620.00 yuan/ton, unchanged [2]. - 京唐港山西产主焦煤: 1,610.00 yuan/ton, unchanged; 天津港准一级冶金焦: 1,520.00 yuan/ton, unchanged [2]. - 山西晋中灵石中硫主焦: 1,300.00 yuan/ton, unchanged; J主力合约基差: 11.50 yuan/ton, down 6.50 yuan [2]. - 内蒙古乌海产焦煤出厂价: 1,100.00 yuan/ton, unchanged; JM主力合约基差: 105.50 yuan/ton, down 7.00 yuan [2]. Upstream Situation - 314家独立洗煤厂精煤产量: 26.40 million tons, up 0.40 million tons; 314家独立洗煤厂精煤库存: 297.00 million tons, up 8.90 million tons [2]. - 314家独立洗煤厂产能利用率: 0.37%, unchanged; 原煤产量: 38,098.70 million tons, down 4,008.70 million tons [2]. - 煤及褐煤进口量: 3,561.00 million tons, up 257.00 million tons; 523家炼焦煤矿山原煤日均产量: 187.90 million tons, down 0.40 million tons [2]. - 16个港口进口焦煤库存: 447.78 million tons, down 15.27 million tons; 焦炭18个港口库存: 269.71 million tons, down 3.84 million tons [2]. - 独立焦企全样本炼焦煤总库存: 976.88 million tons, down 11.04 million tons; 独立焦企全样本焦炭库存: 62.51 million tons, down 7.22 million tons [2]. - 全国247家钢厂炼焦煤库存: 805.80 million tons, down 2.86 million tons; 全国247家样本钢厂焦炭库存: 609.80 million tons, down 9.48 million tons [2]. - 独立焦企全样本炼焦煤可用天数: 12.97 days, down 0.02 days; 247家样本钢厂焦炭可用天数: 10.83 days, down 0.08 days [2]. Industry Situation - 炼焦煤进口量: 910.84 million tons, up 172.10 million tons; 焦炭及半焦炭出口量: 89.00 million tons, up 38.00 million tons [2]. - 炼焦煤产量: 4,064.38 million tons, down 5.89 million tons; 独立焦企产能利用率: 74.34%, up 0.31% [2]. - 独立焦化厂吨焦盈利情况: 20.00 yuan/ton, up 36.00 yuan; 焦炭产量: 4,185.50 million tons, up 15.20 million tons [2]. Downstream Situation - 全国247家钢厂高炉开工率: 83.57%, down 0.20%; 247家钢厂高炉炼铁产能利用率: 90.24%, up 0.17% [2]. - 粗钢产量: 7,965.82 million tons, down 352.58 million tons [2]. Industry News - The flood - control situation is still severe, and there may be typhoons by the end of August [2]. - On August 18, mainstream coking enterprises proposed the seventh round of coke price increase, with a 50 - yuan/ton increase for tamping wet - quenched coke and a 55 - yuan/ton increase for tamping dry - quenched coke, effective from 0:00 on August 19 [2]. - Premier Li Qiang emphasized enhancing the effectiveness of macro - policies, expanding effective investment, and stabilizing the real - estate market [2]. - The steel industry achieved good results in the first half of the year, with the significant decline in crude steel output being the fundamental reason for profit improvement [2].