煤焦：焦价提涨陆续落地，盘面震荡运行

Industry Investment Rating - No information provided Core Viewpoints - Short-term domestic coal mine production has a slight recovery, and the Mongolian coal customs clearance volume has significantly rebounded; demand fluctuates slightly, and attention should be paid to the transmission of off-season pressure to the raw material end. Coking coal prices are still operating within the range of 1100 - 1300 yuan/ton [2] Summary by Relevant Catalogs Market Performance - Last week, the coking coal and coke market made up for the decline, and the futures prices fluctuated downward. The spot market remained stable and slightly strong, and steel mills in some regions accepted the fourth round of coking price increases [2] Fundamental Analysis - Supply Side: Last week, coal mine production in many places in Shanxi recovered, and there is still an expectation of increased production in the short term. The daily average output of clean coal was 75.7 tons, a week-on-week increase of 1.9 tons and a year-on-year decrease of 3.3 tons. From November 10th to 15th, the daily average customs clearance volume of Mongolian coal at the Ganqimaodu Port was 17.45 tons, a decrease of 2.07 tons compared with the previous week, but still at a relatively high level, and the port supervision area showed a trend of increased inventory [2] - Demand Side: The profits of steel mills continued to shrink, and the profitability rate dropped below 40%. The phased production restriction policy in the Tangshan area was lifted recently, which promoted the recovery of molten iron production. The daily average molten iron production last week rebounded to 236.88 tons, an increase of 2.66 tons compared with the previous week [2]