煤焦：焦炭完成首轮提涨，盘面震荡运行

Report Industry Investment Rating - No relevant information provided Core Viewpoint - The current coal and coke market has general supply - demand contradictions and low inventory pressure, which support prices to some extent. However, due to the off - season influence, there is a lack of continuous upward driving force, and prices also fluctuate with market sentiment [2] Summary by Related Content Market Performance - Last week, the coal and coke futures prices first declined and then rose, closing slightly higher on a weekly basis. In the spot market, the coke price completed the first round of increase, and the coking coal market price was generally weak and stable [2] - The Indian government declared coking coal as a key strategic mineral last week, and the real - estate sector in the stock market rose, releasing the market's bullish sentiment and providing a good atmosphere for the strengthening of black - series futures [2] Fundamental Situation - As the Chinese New Year approaches, some regional coal mines reduced production due to safety inspections and underground conditions last week. The production of raw coal and clean coal was 1.978 million tons and 0.771 million tons respectively [2] - According to Mysteel's research, coal mines are expected to start taking holidays on February 5th, with holidays ranging from 2 to 62 days and an average of 10.1 days, similar to last year. The planned production cuts and shutdowns of coal mines involve a capacity of about 744 million tons, affecting 1.868 million tons of raw coal production [2] - On the demand side, steel mill production is relatively stable, with the daily average hot metal output maintained at around 2.28 million tons [2]