煤焦日报：市场氛围改善，煤焦低位反弹-20251218

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - On December 18, the coke futures market sentiment turned from weak to strong, and the main contract rebounded from a low level. It is recommended to pay attention to the downstream restocking rhythm [5][34]. - On December 18, the coking coal futures market sentiment also turned from weak to strong, and the main contract rebounded from a low level. It is advisable to closely monitor whether there are new supply - favorable policies in the coal industry [5][34]. Summary of Each Section Industry News - China has re - implemented export license management for steel products after 16 years, aiming to strengthen monitoring, statistics, and analysis of steel product exports and promote high - quality development of the steel industry [7]. - On December 18, the auction prices of coking coal in the Linfen market mainly declined. The cumulative listed volume was 461,000 tons, with a non - successful bid rate of about 28.4% and an average decline of about 21 yuan/ton. Short - term prices are expected to fluctuate [8]. Spot Market | Variety | Current Value | Weekly Change | Monthly Change | Annual Change | Year - on - Year Change | | --- | --- | --- | --- | --- | --- | | Coke (Rizhao Port, quasi - first - grade flat - price) | 1,570 yuan/ton | Flat | - 5.99% | - 7.10% | - 9.77% | | Coke (Qingdao Port, quasi - first - grade ex - warehouse) | 1,430 yuan/ton | - 0.69% | - 1.38% | - 11.73% | - 12.80% | | Coking Coal (Ganqimaodu Port, Mongolian coal) | 1,125 yuan/ton | - 3.02% | - 12.11% | - 4.66% | - 8.54% | | Coking Coal (Jingtang Port, Australian - produced) | 1,480 yuan/ton | 1.37% | - 5.73% | - 0.67% | - 3.90% | | Coking Coal (Jingtang Port, Shanxi - produced) | 1,650 yuan/ton | Flat | - 3.51% | 7.84% | - 2.37% | [9] Futures Market | Futures | Active Contract | Closing Price | Daily Increase | Highest Price | Lowest Price | Trading Volume | Volume Difference | Open Interest | Open Interest Difference | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Coke | | 1,603.5 yuan/ton | 5.39% | 1,618 yuan/ton | 1,532 yuan/ton | 21,000 | 5,447 | 12,791 | - 3,916 | | Coking Coal | | 1,126.5 points | 6.07% | 1,136.5 points | 1,057.5 points | 1,700,451 | 752,463 | 501,331 | 4,320 | [14] Related Charts - The report provides multiple charts related to coke and coking coal inventories, as well as production and operation data of steel mills, coking plants, and coal washing plants, including 230 independent coking plant coke inventories, 247 steel mill coking plant coke inventories, port coke total inventories, etc. [15][16][19] Market Outlook - Coke: The futures market sentiment has turned from weak to strong, and the main contract has rebounded from a low level. It is recommended to pay attention to the downstream restocking rhythm [5][34]. - Coking coal: The futures market sentiment has turned from weak to strong, and the main contract has rebounded from a low level. It is advisable to closely monitor whether there are new supply - favorable policies in the coal industry [5][34].