焦煤、焦炭日报-20251010

Group 1: Report Overview - Industry: Black Metal Industry - Report Type: Daily Report - Date: October 10, 2025 - Researcher: Guo Chao [2] Group 2: Market Information Futures Prices - Coking Coal Futures: JM01 at 1161 (down 3 from yesterday), JM05 at 1259 (down 4), JM09 at 1346 (down 5) - Coke Futures: J01 at 1666.5 (up 12.5 from yesterday), J05 at 1819 (up 10), J09 at 1896.5 (up 1.5) [3] Spot Prices - Coking Coal Spot: Low - sulfur prime coking coal at 1530 (unchanged), Medium - sulfur prime coking coal at 1280 (unchanged) - Coke Spot: Port quasi - first - grade (wet - quenched) at 1420 (unchanged), Port quasi - first - grade (dry - quenched) at 1650 (unchanged) [3] Warehouse Receipts - Coking Coal Warehouse Receipts: Shanxi coal at 1200 (unchanged), Meng 5 at 1164 (unchanged) - Coke Warehouse Receipts: Port spot (wet - quenched) at 1527 (unchanged), Port spot (dry - quenched) at 1650 (unchanged) [3] Basis - Coking Coal Basis: For Shanxi coal, 01 contract at 39, 05 contract at - 59, 09 contract at - 146 - Coke Basis: For port spot (wet - quenched), 01 contract at - 140, 05 contract at - 182, 09 contract at - 260 [3] Transportation Prices - Coking Coal Transportation: Jiexiu to Fengnan District at 140 (unchanged), Xiaoyi to Guye District at 150 (unchanged) - Coke Transportation: Jiexiu to Rizhao Port at 160 (down 15 from yesterday), Xiaoyi to Rizhao Port at 165 (down 15) [3] Group 3: Market Judgment Trading Strategies - Unilateral: Adopt a bottom - fishing buying strategy for coking coal, but be cautious about the upside potential [6] - Arbitrage: Hold a wait - and - see attitude - Options: Hold a wait - and - see attitude - Futures - Spot: Hold a wait - and - see attitude [7] Market Analysis - Supply: Domestic coking coal supply in October is expected to be stable, lower than last year. Imported coal has room for growth. Future coal production may be restricted by policies such as over - production checks [6] - Demand: Iron production in October is expected to remain high, supporting raw material prices. Steel demand has resilience but lacks obvious highlights, restricting the upside of raw material prices [6] Group 4: Important Information - Steel Mills: The blast furnace operating rate of 247 steel mills is 84.27%, down 0.02 percentage points from last week, up 3.48 percentage points year - on - year. Daily iron production is 241.54 tons, down 0.27 tons from last week, up 8.46 tons year - on - year [8] - Coking Coal Market: In the Lvliang coking coal online auction on the 10th, most prices rose. The total listed volume was 192,000 tons, with 172,000 tons sold and 20,000 tons unsold [10] Group 5: Related Drawings - Coking Coal: Include price charts of medium - sulfur prime coking coal, Meng 5 clean coal, high - quality low - volatile Australian coal, etc., as well as basis charts of coking coal [13][15][16] - Coke: Include price index charts, export price charts, and basis charts of coke [23][24][27]