Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Report's Core View - The short - term and medium - term views of both coking coal and coke are "oscillation", and the intraday views are "oscillation on the strong side". The overall view is that coking coal and coke will oscillate. For coking coal, it's due to the combination of long and short factors; for coke, it's because of the support from the spot market [1][5][6]. 3. Summary by Related Catalogs Coking Coal (JM) - Price Information: The latest quotation of Mongolian coal at the Ganqimao Port is 1,210 yuan/ton, with a week - on - week flat [5]. - Supply: Last week, the daily average output of clean coal from 523 coking coal mines nationwide was 76.1 tons, a week - on - week increase of 3.3 tons, and 3.3 tons lower than the same period last year. The number of Mongolian coal customs clearance vehicles at the 288 Port last week returned to the highest level this year, with the daily clearance vehicles around 1,300 - 1,400 [5]. - Demand: The combined daily average output of coke from sample coking plants and steel mills was 113.37 tons, with a week - on - week flat [5]. - Market Outlook: The real - world fundamentals of coking coal lack support, but the downstream restocking expectation before the National Day and the coal mine production reduction expectation at the end of the month support the price, driving the main contract to maintain high - level oscillation [5]. Coke (J) - Price Information: The latest quotation of the flat - price index of quasi - first - grade wet - quenched coke at Rizhao Port is 1,470 yuan/ton, with a week - on - week flat; the ex - warehouse price of quasi - first - grade wet - quenched coke at Qingdao Port is 1,460 yuan/ton, a week - on - week decrease of 2.67% [6]. - Supply: The combined daily average output of coke according to the Steel Union's statistics last week was 113.37 tons, with a week - on - week flat [6]. - Demand: The daily average output of hot metal from 247 steel mills nationwide was 241.02 tons, a week - on - week increase of 0.47 tons. As the National Day holiday approaches, the pre - holiday restocking demand supports the spot price [6]. - Market Outlook: The fundamental contradictions of coke are not prominent, the market is in a wait - and - see mood, the futures oscillate within a range, and the future trend depends on whether there are new positive factors in the anti - involution policy [6].
宝城期货煤焦早报（2025年9月24日）-20250924
Bao Cheng Qi Huo·2025-09-24 01:49