煤焦：煤矿阶段性减产，盘面弱势震荡

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Viewpoints of the Report - Coal production has decreased temporarily, but the reduction is not sustainable and is expected to resume production soon; the overall market sentiment is cooling, and prices are under pressure [4] Group 3: Summary According to the Directory Market Performance - Yesterday, coal and coke futures prices were generally weak and volatile, and the weakness continued at night. The 09 contract entered the delivery month. With weak buying and delivery intentions, the futures price changed from premium to flat or even discount, dragging down the prices of other contracts. On the spot side, the high - priced resources at some coal mines had weak transactions, and prices were stable with a downward trend. Last week, coke enterprises in Hebei started the 8th round of price increase, but mainstream steel mills had no response, while some regional steel mills planned price cuts, and the market entered a game period [3] Supply Side - This week, affected by the military parade, many coal mines in Shanxi concentrated on shutdown and maintenance, mostly for 2 - 3 days. The regional and large - scale shutdown of coal mines and the cancellation of night shifts in some areas led to a significant decline in production. However, since most coal mines had a short shutdown time, many coal mines resumed production on September 4, and it is expected that the coking coal production in the main producing areas will recover rapidly next week [3] Demand Side - The profitability rate of steel mills has remained above 60%, and the willingness for self - reduction is low. During the military parade, there was an expectation of production reduction for blast furnaces of steel mills around Beijing - Tianjin - Hebei. From the survey, the production - limiting period was mainly from August 31 to September 3, with a production - limiting range of about 40%, significantly lower than the previous similar major events. The production - limited steel mills are expected to resume production one after another after the 4th [3]