煤焦周报：焦企焦炭库存增加，煤矿供应上升-20250827

Supply Insights - Coking coal production from 523 sample mines reached an average of 191.22 million tons per day, up by 3.31%[44] - The average profit for independent coking enterprises increased to 23 yuan per ton, reflecting a rise of 3 yuan[20] - Coking coal total inventory increased, with independent coking plants holding 966.41 million tons, down by 10.47%[62] Demand Insights - Daily pig iron production averaged 240.75 million tons, showing a slight increase of 0.09%[24] - Coking coal demand remains moderate as coking coal production is at historically low levels[49] - The total weekly output of the five major materials reached 878.06 million tons, up by 6.43%[24] Inventory Insights - Coking plant inventories increased slightly after two months of depletion, with total coking coal inventory at 888.58 million tons, up by 1.16%[28] - Steel mill inventories decreased slightly, with 247 steel mills holding 812.31 million tons, an increase of 6.51%[62] - The usable days of coking coal inventory for 247 steel mills increased to 13.07 days, up by 0.1 days[62] Market Outlook - The market is expected to experience increased risk appetite following dovish comments from Powell, with commodity prices likely to rise[5] - The coking coal index is projected to fluctuate within the range of 1100-1300[6] - The coking coal index is anticipated to operate within the range of 1650-1790[5]