需求方面，双节期间由于物流及天气影响，部分钢厂到货受限，但不过河北部分地区钢厂近期因为环保 存在压产行为，叠加烧结矿库存不足，后期高炉负荷仍有继续下降可能，多数钢厂暂无追高焦炭库存的 意愿,当前下游钢厂开工较为稳定。 港口方面，港口焦炭现货市场暂稳运行。港口市场现货成交平淡，，两港贸易商集港数量略有回升，两 港总库存较上一工作日稳中有降。现港口准一级湿熄焦主流现汇出库价1440元/吨(+20)。 综合来看，当前焦炭市场供需整体平稳，但市场心态趋于谨慎，上行驱动有限。供应端，焦企在首轮提 涨落地后利润压力略有缓解，开工稳定，厂内库存低位对价格形成一定支撑；然而，随着节后煤矿供应 逐步恢复，加之部分焦煤价格回调，焦炭成本支撑减弱，市场观望情绪渐起。需求端钢厂开工虽稳，但 受环保限产、烧结矿库存不足等因素制约，高炉负荷存在下降预期，钢厂对焦炭补库意愿不强，多按需 采购。后续市场的走向，需重点关注焦煤价格的变动、钢厂的利润与减产情况以及终端需求的恢复力 度。 来源：焦联资讯 （来源：铁合金网） 主流焦企开会对焦炭市场进行探讨，与会企业认为当前终端钢材累库明显，焦炭市场暂不具备提涨条 件，且由于焦企利润不佳，应控制或暂 ...

Core Insights - The coking industry in China is experiencing a strong willingness to increase prices, with the eighth round of price hikes for coking coal initiated [1] - A decision was made to raise prices for various types of coking coal effective from August 26, with increases of 50 CNY/ton for wet quenching coke, 55 CNY/ton for dry quenching coke, and 75 CNY/ton for top-loaded coke [1] - Environmental regulations in Henan province have led to a voluntary production cut of 20-35% for coking companies from August 25 to September 3, with some companies already implementing cuts of 30-35% [1] - Multiple cities in Shandong and Hebei provinces have followed suit in raising coking coal prices [1] - Despite the price increases, there is resistance from steel mills due to declining orders and profit pressures, indicating a potential conflict in the coking supply chain [1] Price Movement - As of August 26, the main coking coal contract was fluctuating above 1700 CNY, reported at 1731 CNY/ton with a rise of 0.49% [3]

Group 1 - The Central Committee of the Communist Party of China will hold its fourth plenary session in October, emphasizing the need for macro policies to continue and enhance efforts to boost consumption and strengthen the domestic capital market [1] - The Ministry of Commerce of China expressed welcome for foreign investment, including from U.S. companies, to share development opportunities [2] - The National Development and Reform Commission has allocated a budget of 90 billion yuan for childcare subsidies, with applications opening in late August [3] Group 2 - The Hubei humanoid robot fund has launched with an initial investment of 5 billion yuan, focusing on the development of robotics technology [6] - The China Coking Industry Association has called for an increase in coke prices, with specific price adjustments announced for various types of coke effective July 31 [7] - The Dalian Commodity Exchange has adjusted trading limits for certain contracts related to industrial silicon and lithium carbonate [8] Group 3 - CATL reported a net profit of 30.5 billion yuan for the first half of the year, a year-on-year increase of 33.02%, and announced a cash dividend of 10.07 yuan per share [9] - Vanke A announced a loan of up to 869 million yuan from Shenzhen Metro Group [10] - Long River Power plans to invest approximately 26.6 billion yuan in the Gezhouba shipping capacity expansion project [10] Group 4 - Lide Man plans to acquire up to 70% of a tuberculosis diagnostic screening company, which is expected to constitute a major asset restructuring [11] - Dongxin Co. announced ongoing product optimization for its chip products, which have not yet generated revenue [12] - The stock of Hehua Co. is suspended due to plans for a change in control [13] Group 5 - The Federal Reserve maintained its target range for the federal funds rate at 4.25% to 4.50%, marking the fifth consecutive decision to keep rates unchanged [15] - The U.S. government announced a 50% tariff on imported semi-finished copper products effective August 1 [18] - The U.S. stock market showed mixed results, with the Dow Jones down 0.38% and the Nasdaq up 0.15% [21] Group 6 - Microsoft reported fourth-quarter revenue of $76.44 billion, a year-on-year increase of 18%, exceeding expectations [22] - Qualcomm's third-quarter adjusted revenue was $10.37 billion, a 10% increase year-on-year, with adjusted net income rising by 25% [23]

Core Viewpoint - The Chinese coking industry is set to implement a price increase for various types of coke starting from July 31, aimed at alleviating operational difficulties and ensuring reasonable profit distribution within the industry [1] Group 1: Price Adjustments - The coking industry representatives have agreed to raise the price of solid wet quenching coke by 50 yuan per ton [1] - The price of solid dry quenching coke will be increased by 55 yuan per ton [1] - The price of top-loading coke will see an increase of 75 yuan per ton [1]