瑞达期货焦煤焦炭产业日报-20250821

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - On August 21, the JM2601 contract of coking coal closed at 1147.0, down 1.50%. In the spot market, the price of Tangshan Mongolian No. 5 coking coal was reported at 1230, equivalent to 1010 on the futures market. The market is expected to move in a volatile manner [2]. - On August 21, the J2601 contract of coke closed at 1664.0, down 0.95%. In the spot market, the seventh round of price increase has started. The market is expected to move in a volatile manner [2]. 3. Summary According to Relevant Catalogs 3.1 Futures Market - JM main - contract closing price was 1147.00 yuan/ton, down 15.50 yuan; J main - contract closing price was 1664.00 yuan/ton, down 14.00 yuan [2]. - JM futures contract holding volume was 899361.00 lots, up 450.00 lots; J futures contract holding volume was 47951.00 lots, down 1572.00 lots [2]. - Net holding volume of the top 20 coking coal contracts was - 112662.00 lots, down 1543.00 lots; net holding volume of the top 20 coke contracts was - 5111.00 lots, up 165.00 lots [2]. - JM1 - 9 month contract spread was 117.00 yuan/ton, down 1.00 yuan; J1 - 9 month contract spread was 59.00 yuan/ton, up 14.00 yuan [2]. - Coking coal warehouse receipts were 0.00; coke warehouse receipts were 820.00 [2]. 3.2 Spot Market - The price of Ganqimao Mongolian No. 5 raw coal was 936.00 yuan/ton, down 18.00 yuan; the price of Tangshan Grade - 1 metallurgical coke was 1720.00 yuan/ton, unchanged [2]. - The price of Russian prime coking coal forward spot was 147.00 US dollars/wet ton, unchanged; the price of Rizhao Port quasi - Grade - 1 metallurgical coke was 1520.00 yuan/ton, unchanged [2]. - The price of imported prime coking coal from Australia at Jingtang Port was 1500.00 yuan/ton, unchanged; the price of Grade - 1 metallurgical coke at Tianjin Port was 1620.00 yuan/ton, unchanged [2]. - The price of prime coking coal produced in Shanxi at Jingtang Port was 1610.00 yuan/ton, unchanged; the price of quasi - Grade - 1 metallurgical coke at Tianjin Port was 1520.00 yuan/ton, unchanged [2]. - The price of medium - sulfur prime coking coal in Lingshi, Jinzhong, Shanxi was 1300.00 yuan/ton, unchanged [2]. - The ex - factory price of coking coal produced in Wuhai, Inner Mongolia was 1100.00 yuan/ton, unchanged [2]. - JM main - contract basis was 153.00 yuan/ton, up 15.50 yuan; J main - contract basis was 56.00 yuan/ton, up 14.00 yuan [2]. 3.3 Upstream Situation - The daily output of clean coal from 314 independent coal washing plants was 25.70 million tons, down 0.70 million tons; the weekly inventory of clean coal from 314 independent coal washing plants was 294.80 million tons, down 2.20 million tons [2]. - The weekly capacity utilization rate of 314 independent coal washing plants was 0.36%, down 0.00%; the monthly raw coal output was 38098.70 million tons, down 4008.70 million tons [2]. - The monthly import volume of coal and lignite was 3561.00 million tons, up 257.00 million tons; the daily average output of raw coal from 523 coking coal mines was 191.20 million tons, up 3.30 million tons [2]. - The weekly inventory of imported coking coal at 16 ports was 447.78 million tons, down 15.27 million tons; the weekly inventory of coke at 18 ports was 269.71 million tons, down 3.84 million tons [2]. - The weekly total inventory of coking coal of independent coking enterprises in full - sample was 976.88 million tons, down 11.04 million tons; the weekly inventory of coke of independent coking enterprises in full - sample was 62.51 million tons, down 7.22 million tons [2]. - The weekly inventory of coking coal of 247 steel mills nationwide was 805.80 million tons, down 2.86 million tons; the weekly inventory of coke of 247 sample steel mills was 609.80 million tons, down 9.48 million tons [2]. - The weekly available days of coking coal of independent coking enterprises in full - sample was 12.97 days, down 0.02 days; the weekly available days of coke of 247 sample steel mills was 10.83 days, down 0.08 days [2]. 3.4 Industry Situation - The monthly import volume of coking coal was 962.30 million tons, up 53.11 million tons; the monthly export volume of coke and semi - coke was 89.00 million tons, up 38.00 million tons [2]. - The monthly output of coking coal was 4064.38 million tons, down 5.89 million tons; the weekly capacity utilization rate of independent coking enterprises was 74.34%, up 0.31% [2]. - The weekly profit per ton of coke of independent coking plants was 20.00 yuan/ton, up 36.00 yuan; the monthly output of coke was 4185.50 million tons, up 15.20 million tons [2]. 3.5 Downstream Situation - The weekly blast furnace start - up rate of 247 steel mills nationwide was 83.57%, down 0.20%; the weekly blast furnace iron - making capacity utilization rate of 247 steel mills was 90.24%, up 0.17% [2]. - The monthly output of crude steel was 7965.82 million tons, down 352.58 million tons [2]. 3.6 Industry News - On August 18, the 1 - year LPR was 3.0%, and the 5 - year LPR was 3.5% [2]. - US Treasury Secretary Janet Yellen said on the 19th local time that the US and China had a "very good dialogue" on economic and trade issues and expected to meet again before November [2]. - The minutes of the Fed's July meeting showed that almost all policymakers supported not cutting interest rates, with only two opposing. There were differences among Fed officials on inflation, employment risks, and the impact of tariffs on inflation [2]. - This week, the capacity utilization rate of 314 independent coal washing plants was 36.1%, down 0.46% month - on - month; the daily output of clean coal was 25.7 million tons, down 0.7 million tons; the inventory of clean coal was 294.8 million tons, down 2.2 million tons [2].