瑞达期货焦煤焦炭产业日报-20260309

1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints of the Report - For coking coal, in the short term, supported by energy and Two - Sessions policies, but facing pressure from a loose fundamental situation, the futures price is expected to fluctuate and tend to rise [2]. - For coke, affected by the sharp rise in international crude oil and the policy expectations of the Two - Sessions in the short term, there is certain support. However, the coke market has a loose supply - demand situation, with weak rigid demand from steel mills and limited start - up. The futures price is also expected to fluctuate and tend to rise [2]. 3. Summary by Relevant Catalogs 3.1 Futures Market - JM main contract closing price: 1168.00 yuan/ton, up 45.00 yuan; J main contract closing price: 1740.00 yuan/ton, up 44.50 yuan [2]. - JM futures contract open interest: 601236.00 lots, down 80826.00 lots; J futures contract open interest: 44867.00 lots, up 2535.00 lots [2]. - Net open interest of the top 20 coking coal contracts: - 68168.00 lots, up 8604.00 lots; net open interest of the top 20 coke contracts: - 4743.00 lots, down 3864.00 lots [2]. - JM 9 - 5 month contract spread: 83.50 yuan/ton, down 10.00 yuan; J 9 - 5 month contract spread: 63.50 yuan/ton, down 3.00 yuan [2]. - Coking coal warehouse receipts: 0.00; coke warehouse receipts: - 1.00 [2]. 3.2 Spot Market - Dry Qimantage Mongolian No. 5 raw coal: 1020.00 yuan/ton; Tangshan Grade - 1 metallurgical coke: 1665.00 yuan/ton, down 55.00 yuan [2]. - Russian prime coking coal forward spot (CFR): 162.50 US dollars/wet ton; Rizhao Port quasi - Grade - 1 metallurgical coke: 1470.00 yuan/ton, down 50.00 yuan [2]. - Jingtang Port Australian imported prime coking coal (yard price): 1570.00 yuan/ton; Tianjin Port Grade - 1 metallurgical coke: 1570.00 yuan/ton, down 50.00 yuan [2]. - Jingtang Port Shanxi - produced prime coking coal (yard price): 1610.00 yuan/ton; Tianjin Port quasi - Grade - 1 metallurgical coke: 1470.00 yuan/ton, down 50.00 yuan [2]. - Shanxi Jinzhong Lingshi medium - sulfur prime coking coal: 1387.00 yuan/ton, up 8.00 yuan; J main contract basis: - 75.00 yuan/ton, down 99.50 yuan [2]. - Inner Mongolia Wuhai - produced coking coal ex - factory price: 1280.00 yuan/ton; JM main contract basis: 137.00 yuan/ton, down 45.00 yuan [2]. 3.3 Upstream Situation - The daily output of clean coal from 314 independent coal washing plants: 19.90 million tons, up 3.00 million tons; the weekly inventory of clean coal from 314 independent coal washing plants: 288.50 million tons, down 10.40 million tons [2]. - The weekly capacity utilization rate of 314 independent coal washing plants: 0.27%, up 0.04%; monthly raw coal output: 43703.50 million tons, up 1024.20 million tons [2]. - Monthly coal and lignite import volume: 5860.00 million tons, up 1455.00 million tons; the daily average output of raw coal from 523 coking coal mines: 182.90 million tons, up 31.30 million tons [2]. - The weekly inventory of imported coking coal at 16 ports: 485.74 million tons, down 8.70 million tons; the weekly inventory of coke at 18 ports: 270.71 million tons, up 9.01 million tons [2]. - The weekly total inventory of coking coal of all - sample independent coking enterprises: 796.15 million tons, down 33.31 million tons; the weekly inventory of coking coal of 247 steel mills nationwide: 775.64 million tons, down 16.82 million tons [2]. - The weekly inventory of coke of all - sample independent coking enterprises: 63.20 million tons, up 1.01 million tons; the weekly inventory of coke of 247 sample steel mills: 671.26 million tons, down 3.85 million tons [2]. - The weekly available days of coking coal of all - sample independent coking enterprises: 12.41 days, down 0.24 days; the weekly available days of coke of 247 sample steel mills: 12.53 days, up 0.12 days [2]. 3.4 Industry Situation - Monthly coking coal import volume: 1376.98 million tons, up 303.87 million tons; monthly coke and semi - coke export volume: 100.00 million tons, up 28.00 million tons [2]. - Monthly total coking coal supply: 5478.50 million tons, up 238.93 million tons; the weekly capacity utilization rate of independent coking enterprises: 72.29%, down 0.54% [2]. - The weekly profit per ton of coke in independent coking plants: 17.00 yuan/ton, up 24.00 yuan; monthly coke output: 4274.30 million tons, up 104.00 million tons [2]. 3.5 Downstream Situation - The weekly blast furnace operating rate of 247 steel mills nationwide: 77.71%, down 2.51%; the weekly blast furnace iron - making capacity utilization rate of 247 steel mills: 85.32%, down 2.13% [2]. - Monthly crude steel output: 6817.74 million tons, down 169.36 million tons [2]. 3.6 Industry News - The central bank governor said that this year, various monetary policy tools such as reserve requirement ratio cuts and interest rate cuts will be flexibly and efficiently used to create a good monetary and financial environment for a good start of the 15th Five - Year Plan [2]. - Mysteel reported that on March 6, the first round of coke price cuts was implemented [2]. - US President Trump said that no agreement will be reached with Iran unless it unconditionally surrenders. He is not worried about the rise in US gasoline prices, which is only temporary and will soon drop significantly. He said that Iran may suffer a "very heavy blow" [2].