瑞达期货焦煤焦炭产业日报-20250910

Report Industry Investment Rating - Not provided in the content Core Viewpoints - On September 10, the JM2601 contract of coking coal closed at 1117.0, down 1.93%. The spot price of Tangshan Mongolian No. 5 coking coal was reported at 1366, equivalent to 1146 on the futures market. The coking coal market is expected to move in a range, and investors should pay attention to risk control [2]. - On September 10, the J2601 contract of coke closed at 1603.0, down 0.77%. The first - round price cut of coke on the spot market has been implemented. The coke market is expected to move in a range, and investors should pay attention to risk control [2]. Summary by Relevant Catalogs Futures Market - The closing price of the JM main contract was 1117.00 yuan/ton, down 6.50 yuan; the closing price of the J main contract was 1603.00 yuan/ton, up 5.50 yuan [2]. - The trading volume of the JM futures contract was 885248.00 lots, down 17361.00 lots; the trading volume of the J futures contract was 52202.00 lots, down 743.00 lots [2]. - The net position of the top 20 contracts for coking coal was - 117717.00 lots, up 8713.00 lots; the net position of the top 20 contracts for coke was - 4245.00 lots, down 164.00 lots [2]. - The spread between the JM5 - 1 contracts was 78.00 yuan/ton, down 3.50 yuan; the spread between the J5 - 1 contracts was 129.50 yuan/ton, up 1.50 yuan [2]. - The number of coking coal warehouse receipts was 1300.00, down 200.00; the number of coke warehouse receipts was 1430.00, up 120.00 [2]. Spot Market - The price of Ganqimao Mongolian No. 5 raw coal was 940.00 yuan/ton, up 8.00 yuan; the price of Tangshan Grade I metallurgical coke was 1720.00 yuan/ton, unchanged [2]. - The price of Russian prime coking coal forward spot (CFR) was 149.00 US dollars/wet ton, down 0.50 US dollars; the price of Rizhao Port quasi - Grade I metallurgical coke was 1520.00 yuan/ton, unchanged [2]. - The price of Australian prime coking coal imported at Jingtang Port was 1560.00 yuan/ton, unchanged; the price of Grade I 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 1540.00 yuan/ton, unchanged; the price of quasi - Grade I 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 1270.00 yuan/ton, unchanged; the basis of the J main contract was 117.00 yuan/ton, down 5.50 yuan [2]. - The ex - factory price of coking coal produced in Wuhai, Inner Mongolia was 1100.00 yuan/ton, unchanged; the basis of the JM main contract was 153.00 yuan/ton, up 6.50 yuan [2]. Upstream Situation - The daily output of clean coal from 314 independent coal washing plants was 25.60 million tons, up 0.40 million tons; the weekly inventory of clean coal from 314 independent coal washing plants was 280.60 million tons, down 5.60 million tons [2]. - The weekly capacity utilization rate of 314 independent coal washing plants was 0.35%, 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 4273.70 million tons, up 712.70 million tons; the daily average output of raw coal from 523 coking coal mines was 188.60 million tons, down 2.60 million tons [2]. - The weekly inventory of imported coking coal at 16 ports was 464.77 million tons, up 9.36 million tons; the weekly inventory of coke at 18 ports was 260.76 million tons, down 7.90 million tons [2]. National Industrial Situation - The weekly inventory of coking coal in 247 steel mills was 795.76 million tons, down 16.09 million tons; the weekly inventory of coke in 247 sample steel mills across the country was 623.71 million tons, up 13.64 million tons [2]. - The available days of coking coal in the full - sample of independent coking enterprises was 13.09 days, down 0.16 days; the available days of coke in 247 sample steel mills was 11.71 days, up 0.93 days [2]. - 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 4089.38 million tons, up 25.00 million tons; the weekly capacity utilization rate of independent coking enterprises was 73.14%, down 0.22% [2]. - The weekly profit per ton of coke in independent coking plants was 64.00 yuan/ton, up 9.00 yuan; the monthly output of coke was 4185.50 million tons, up 15.20 million tons [2]. National Downstream Situation - The weekly blast furnace operating rate of 247 steel mills was 80.38%, down 2.80%; the weekly blast furnace iron - making capacity utilization rate of 247 steel mills was 85.77%, down 4.23% [2]. - The monthly output of crude steel was 7965.82 million tons, down 352.58 million tons [2]. Industry News - The US government released preliminary benchmark revision data. In the year up to March this year, the number of non - farm payrolls in the US was revised down by 911,000, equivalent to an average monthly decrease of nearly 76,000 [2]. - The State Council Information Office held a press conference on the high - quality completion of the 14th Five - Year Plan. During the 14th Five - Year Plan period, the incremental value of China's manufacturing industry is expected to reach 8 trillion yuan, accounting for nearly 30% of the global total, and the overall scale has remained the world's largest for 15 consecutive years [2]. - A JPMorgan trader said that "the day of the Fed's rate cut in September" would be the time when "the good news is exhausted". If the Fed cuts interest rates as expected at the meeting on September 17, this market - digested positive news may instead become a catalyst for investors to take profits and withdraw temporarily [2]. - Wang Qiuping, the spokesperson of the State Administration for Market Regulation, said that the administration has promptly interviewed major food - delivery platforms. The relevant platforms quickly responded, collectively voiced their commitment to abide by laws and regulations,杜绝 unfair competition, resist vicious subsidies, and promote the standardized and orderly development of the industry [2].