焦煤、焦炭日报-20260303

Group 1: Report Overview - The report is a daily research report on coking coal and coke in the ferrous metals industry, dated March 3, 2026 [1][2] Group 2: Market Information Futures Prices - Coking coal futures prices (JM01: 1420, up 27.5; JM05: 1127, up 33; JM09: 1222, up 27.5). Coke futures prices (J01: 1856, up 38; J05: 1694, up 42; J09: 1770, up 39) [4] Spot Prices - Coking coal spot prices: low - sulfur primary coking coal is 1520, down 50; medium - sulfur primary coking coal is 1270, unchanged. Coke spot prices: port quasi - first - grade (wet - quenched) is 1480, unchanged [4] Warehouse Receipts - Coking coal warehouse receipts: Shanxi coal is 1190, unchanged; Meng 5 is 1197, up 32. Coke warehouse receipts: port spot (wet - quenched) is 1591, unchanged [4] Basis - Coking coal basis: for Shanxi coal, 01 contract is - 150, 05 contract is 63, 09 contract is - 32. Coke basis: for port spot (wet - quenched), 01 contract is - 155, 05 contract is 7, 09 contract is - 69 [4] Transportation Prices - Transportation prices of coking coal and coke remain unchanged, such as Jiexiu to Fengnan District is 140, unchanged [4] Group 3: Market Judgment Trading Strategy - The current coking coal and coke futures prices have risen significantly. Affected by the escalation of geopolitical conflicts, the price of thermal coal has increased, which supports coking coal. In the short - term, the double - coking futures are expected to be volatile and bullish, and in the medium - term, they are expected to continue wide - range fluctuations. It is recommended to focus on the prices of oil, gas and thermal coal [6] Specific Trading Suggestions - Unilateral: Long positions can be held; in the medium - term, it is recommended to focus on band trading [7] - Arbitrage: Wait and see [8] - Options: The short position of out - of - the - money put options can be held [9] Related Prices - Coke warehouse receipts: Rizhao Port quasi - first - grade (wet - quenched) is 1591 yuan/ton, etc. Coking coal warehouse receipts: Shanxi coal is 1190 yuan/ton, etc. [10] Important Information - In the coking coal production area, most mines in Linfen have basically resumed normal production, but the demand is weak, and the low - sulfur primary coking coal price in Anze and Qinyuan is under pressure. The imported coal market is running at a high level, with high costs and narrowing price increases [11] Group 4: Related Attachments - The report provides multiple charts, including the comprehensive absolute price index of coke, the price of Meng 5 coking coal, the basis of coking coal and coke, etc., covering data from 2021 to 2026 [13][15][17]