【供给】 截至11月13日，全样本独立焦化厂焦炭日均产量63.0万吨/日，周环比-0.6万吨/日，247家钢厂焦炭日均 产量46.2万吨/日，周环比+0.1万吨/日，总产量为109.2万吨/日，周环比-0.5万吨/日。 【需求】 【期现】 截至11月13日收盘，焦炭期货低位震荡走势，焦炭主力2601合约下跌3.5（-0.21%）至1686.0，远月2605 合约下跌15.5（-0.84%）至1820.0，1-5价差走强至-134.0。11月13日主流焦企提涨第四轮部分落地，焦 煤高位提供成本支撑。目前吕梁准一级湿熄冶金焦出厂价格报1390元/吨（第3轮提涨价格），日环比持 平，对应厂库仓单1662元/吨，基差-24.0；日照准一级冶金焦贸易价格报1530元/吨，环比-10元/吨，对 应港口仓单1689元/吨（对标），基差+3.0。 【利润】 全国30家独立焦化厂全国平均吨焦盈利-34元/吨；山西准一级焦平均盈利-37元/吨，山东准一级焦平均 盈利26元/吨，内蒙二级焦平均盈利-90元/吨，河北准一级焦平均盈利16元/吨。 截至11月13日，日均铁水产量236.88万吨/日，环比+2.66万吨/日；高炉开工率8 ...

Report Industry Investment Rating - Bullish on coking coal, suggesting to go long on the coking coal 2601 contract on dips and consider the strategy of going long on coking coal and short on coke for arbitrage [9] Core Viewpoints - As of the afternoon close on November 6, coking coal showed a strong upward trend. The main coking coal contract JM2601 rose 2.38% (+30.0) to 1290.5, with a 15.64% (+174.5) increase from the previous stage low. The far - month contract J2605 also rose 1.66% (+22.0) to 1345.0. All coking coal contracts had varying degrees of increase [1] - The rise in coking coal futures is due to tight Mongolian coal resources, a decline in domestic coal mine开工, the third round of coke price increase, and winter storage demand [1][3][8] - Looking ahead, the coking coal market is expected to continue rising, and the supply - demand gap may widen further [8][9] Summary by Related Factors Mongolian Coal Resources - Mongolian coal supply has been tight. Since October, the daily average customs clearance at the Ganqimaodu Port decreased by 21.3% compared to September. In November, although the customs clearance increased, the supply of main coking coal remained short [1] - The price of Mongolian 5 raw coal has been rising. As of November 5, it was 1170 yuan/ton, up 165 yuan/ton from the post - National Day low and 465 yuan/ton from the year - low in mid - June. The coking coal futures were still at a discount, with potential for a catch - up increase [2] Domestic Coal Mine Production - Due to safety and environmental reasons, domestic coal mine开工 decreased this week. As of November 5, the capacity utilization rate of 523 sample mines was 83.8%, a week - on - week decrease of 1.0%. The daily production of raw coal was 186.3 tons, a week - on - week decrease of 4.0 tons [3] - By the end of this year, coal mine开工 may continue to operate at a low level. The recovery of coking coal production is limited, and there may be production cuts in December. The domestic coking coal supply remains tight [4] Coke Price Increase - On November 5, the third round of coke price increase was officially implemented. The price increase has repaired the profits of coking enterprises to some extent and provided an upward space for coking coal prices. Coke may have further price increase potential [8] Winter Storage Demand - In November, downstream coking enterprises and steel mills usually start winter storage. Although the iron - making water production has decreased, it is still at a relatively high level and may rebound. The demand - side support is strong, and winter storage demand will exacerbate the tight supply - demand situation of coking coal [8]

Core Viewpoint - The recent strong upward trend in coking coal futures is driven by rising prices and a tightening supply situation, despite mixed signals in the market [6] Supply - As of October 23, the average daily coking coal production from independent coking plants was 646,000 tons, a decrease of 7,000 tons week-on-week. The average daily production from 247 steel mills was 461,000 tons, an increase of 2,000 tons week-on-week, leading to a total production of 1.107 million tons per day, down 5,000 tons week-on-week [3] Demand - As of October 23, the average daily pig iron production was 2.399 million tons, down 10,500 tons week-on-week. The blast furnace operating rate was 84.71%, up 0.44% week-on-week, while the capacity utilization rate for blast furnace ironmaking was 89.94%, down 0.39% week-on-week. The profit margin for steel mills was 47.62%, down 7.79% week-on-week [4] Inventory - As of October 23, the total coking coal inventory was 9.526 million tons, an increase of 32,000 tons week-on-week. Independent coking plants held 586,000 tons, up 13,000 tons week-on-week, while steel mills had 6.332 million tons, down 63,000 tons week-on-week. Port inventories stood at 2.608 million tons, up 81,000 tons week-on-week [5] Profitability - The average profit per ton of coking coal across 30 independent coking plants was -41 yuan. In specific regions, Shanxi's average profit was -44 yuan, Shandong's was 20 yuan, Inner Mongolia's was -101 yuan, and Hebei's was 5 yuan [2] Market Dynamics - The recent market dynamics show a strong upward trend in coking coal prices, with the third round of price increases being accepted by major steel mills. The cost support from rising coking coal prices is leading to a potential increase in coking coal prices, despite the lag in coking adjustments. The overall inventory situation indicates a tightening supply, with concerns over production reductions due to environmental and safety regulations [6]

News Summary Core Viewpoint - The domestic independent coking plants' weekly operating load has decreased, while there are price increases planned for coking coal and coke in the market, indicating a complex interplay between supply and demand dynamics in the coking industry [1][2][3]. Group 1: Industry Operations - As of October 23, the weekly operating load of major independent coking plants in China is at 75.33%, down by 1.71 percentage points from the peak in September, with maintenance activities reported in Gansu, Shanxi, and Shandong regions [1]. - The Daqin Railway, a key transportation route for coal, completed its autumn maintenance on October 25, which will enhance the supply chain for electricity coal during the winter and spring seasons [1]. Group 2: Market Pricing and Trends - On October 29, the coking market in Xingtai plans to increase coke prices, with wet quenching coke up by 50 yuan/ton and dry quenching coke up by 55 yuan/ton, effective from October 31 [1]. - According to Guotou Anxin Futures, the second round of price increases for coke has been fully implemented, with coking coal prices rising faster, leading to general profit margins for coking being under pressure [2]. - Zhonghui Futures notes that while the second round of coke price increases has been realized, there are expectations for further price hikes, with a notable balance in supply and demand for coke itself [3].

Report Summary 1) Report Industry Investment Rating No relevant content provided. 2) Core View of the Report The supply of coking coal is expected to tighten, and the prices of coking coal and coke futures contracts are oscillating strongly. The coking coal 2601 contract is short - term concerned about the pressure level around 1260, and the coke 2601 contract is short - term concerned about the pressure level around 1770. Also, pay attention to the 1.35 - 1.55 range change of the coking coal ratio [2][4][5][8]. 3) Summary by Relevant Catalogs a) Futures and Spot Market Quotes - Last week, the coking coal 2601 contract closed at 1248.5 on Friday, with a weekly increase of 5.89%, and the mainstream spot market prices showed a strong trend. The coke 2601 contract closed at 1757.5 on Friday, with a weekly increase of 4.86%, and the mainstream spot market prices remained stable [4]. b) Fundamental Analysis Coking Coal - **Supply Side**: The utilization rate of the approved production capacity of 523 coking coal mines nationwide was 85.1%, a month - on - month decrease of 2.2%. The utilization rate of the production capacity of 314 independent coal washing plants was 36.9%, a month - on - month increase of 1.1%, and the daily output of clean coal was 267,000 tons, a month - on - month increase of 6,000 tons. The overall supply of coking coal increased slightly. The raw coal and clean coal inventories of mines and coal washing plants decreased [4]. - **Demand Side**: The blast furnace operating rate of downstream steel mills remained high, supporting the demand for coking coal. Some coking enterprises limited production, and the coking coal inventory of independent coking enterprises increased. Although there is an expectation of supply tightening and the second round of coke price increase has started, most enterprises still purchase on - demand, and are resistant to high - priced coal. The coking coal price in online auctions continued to rise, and the transaction rate was high [5]. - **Overall**: Last week, the supply of coking coal increased, and the demand decreased slightly. The coking coal 2601 contract oscillated strongly, and short - term attention should be paid to the pressure level around 1260 [5]. Coke - **Supply Side**: The utilization rate of the production capacity of independent coking enterprises was 73.47%, a month - on - month decrease of 0.77%. The daily output was 646,100 tons, a month - on - month decrease of 68,000 tons. The profit per ton of coke for 30 sample coking enterprises was - 41 yuan/ton, a month - on - month decrease of 28 yuan/ton. The supply of coke decreased slightly. The coke inventory at ports increased [7]. - **Demand Side**: The blast furnace operating rate of 247 steel mills was 84.71%, a month - on - month increase of 0.44%. The daily pig iron output was 2.399 million tons, a month - on - month decrease of 105,000 tons. The profitability rate of steel mills was 47.62%, a month - on - month decrease of 7.79%. The coke inventory of steel mills decreased significantly, and some regions purchased coke actively, but most still purchased on - demand [7]. - **Overall**: Last week, the supply of coke decreased, and the demand remained stable. The coke 2601 contract oscillated strongly, and short - term attention should be paid to the pressure level around 1770 [8]. c) Inventory | Commodity | Location | Inventory (10,000 tons) | Weekly Change (10,000 tons) | | --- | --- | --- | --- | | Coking Coal | Port | 275.65 | 2.94 | | | All - sample independent coking plants | 1029.70 | 32.33 | | | 247 sample steel mills | 782.96 | - 5.36 | | | Total | 2088.31 | 29.91 | | Coke | Port | 200.09 | 4.94 | | | All - sample independent coking plants | 58.64 | 1.35 | | | 247 sample steel mills | 633.16 | - 6.28 | | | Total | 891.89 | 0.01 | [9]

Core Viewpoint - The coking coal market is experiencing fluctuations, with futures prices for coking coal declining, while the supply and demand dynamics are showing mixed signals, leading to uncertainty in price adjustments and profitability for coking enterprises [6] Supply - As of October 16, the average daily production of coking coal from independent coking plants was 653,000 tons, a decrease of 8,000 tons week-on-week. The average daily production from 247 steel mills was 459,000 tons, also down by 4,000 tons week-on-week, resulting in a total production of 1,112,000 tons, which is a decline of 13,000 tons week-on-week [3] Demand - As of October 16, the average daily pig iron production was 2,409,500 tons, down by 5,900 tons week-on-week. The blast furnace operating rate was 84.27%, unchanged from the previous week, while the capacity utilization rate for ironmaking was 90.33%, a decrease of 0.22%. The profitability rate for steel mills was 56.41%, down by 0.87% week-on-week [4] Inventory - As of October 16, the total inventory of coking coal was 9,494,000 tons, a decrease of 179,000 tons week-on-week. Independent coking enterprises held 573,000 tons, down by 66,000 tons week-on-week, while steel mills had 6,394,000 tons, down by 114,000 tons week-on-week. Port inventories stood at 2,527,000 tons, an increase of 1,000 tons week-on-week [5] Profitability - The average profit per ton of coking coal for 30 independent coking plants nationwide was -13 yuan. The average profit for Shanxi first-grade coking coal was -8 yuan, while Shandong first-grade coking coal averaged 43 yuan profit. Inner Mongolia second-grade coking coal had an average loss of 74 yuan, and Hebei first-grade coking coal averaged a profit of 35 yuan [2] Market Sentiment - The recent fluctuations in coking coal futures have led to a mixed market sentiment, with the second round of price increases proposed by major coking enterprises yet to be accepted by mainstream steel mills. The market is experiencing a passive destocking trend, with some signs of recovery in market sentiment due to reduced production in certain regions [6]

Report on the Steel Industry Investment Rating No investment rating provided in the report. Core Viewpoints - After the holiday, demand for steel is expected to seasonally recover, and inventory is expected to maintain a seasonal destocking trend. Although demand elasticity is limited, short - term supply and demand are basically balanced, and inventory pressure is not significant. - Before the holiday, the decline in steel prices was due to concerns about supply pressure and the expected swing of coal mine production cuts. During the holiday, there were disturbances on the iron ore supply side, which is expected to support steel prices to stabilize. - For trading strategies, the unilateral driving force is not obvious. In terms of arbitrage, reverse arbitrage on the monthly spread should be considered at high levels, and the spread between hot - rolled coils and rebar is expected to converge. [1] Summary by Directory Steel Prices and Spreads - Rebar and hot - rolled coil prices in different regions and contracts generally declined. For example, the spot price of rebar in East China dropped from 3240 yuan/ton to 3230 yuan/ton, and the 05 - contract price of hot - rolled coils decreased from 3298 yuan/ton to 3259 yuan/ton. [1] Cost and Profit - The price of steel billets decreased by 20 yuan/ton to 2950 yuan/ton, while the price of slab remained unchanged at 3730 yuan/ton. - Profits from steel products generally declined. For example, the profit of hot - rolled coils in East China decreased by 35 yuan/ton. [1] Production and Inventory - The daily average pig iron output increased by 1.0 to 242.0, a 0.4% increase. The production of five major steel products increased by 2.1 to 867.1, a 0.2% increase. - The inventory of five major steel products decreased by 37.8 to 1472.9, a 2.5% decrease. The inventory of rebar decreased by 34.1 to 602.3, a 5.4% decrease. [1] Transaction and Demand - Building material transactions decreased by 2.9 to 8.0, a 26.5% decrease. The apparent demand for five major steel products increased by 30.8 to 904.8, a 3.5% increase. The apparent demand for rebar increased by 20.6 to 241.1, a 9.4% increase. [1] Report on the Iron Ore Industry Investment Rating No investment rating provided in the report. Core Viewpoints - There have been many disturbances on the supply side of iron ore, but the overseas iron ore swap market has only shown a slight increase. Iron ore has a driving force for a rebound, but the upside space is limited. Attention should be paid to the actual arrival of BHP's shipments at ports. - For trading strategies, short - term investors can buy iron ore 2601 contracts at low levels in the price range of 760 - 830, go long on iron ore and short on hot - rolled coils, and buy out - of - the - money call options on iron ore 2601. [4] Summary by Directory Iron Ore - Related Prices and Spreads - The basis of the 01 - contract for different types of iron ore increased. For example, the basis of the 01 - contract for PB powder increased by 3.5 to 44.4, an 8.5% increase. - The 5 - 9 spread decreased by 0.5 to 19.0, a 2.6% decrease; the 9 - 1 spread increased by 1.0 to - 40.0, a 2.4% increase; the 1 - 5 spread decreased by 0.5 to 21.0, a 2.3% decrease. [4] Spot Prices and Price Indexes - The price of some iron ore varieties at Rizhao Port remained unchanged, while the price of new - exchange 62% Fe swaps increased slightly by 0.2 to 104.2, a 0.1% increase. [4] Supply and Demand - The weekly arrival volume at 45 ports increased by 248.2 to 2608.7, a 10.5% increase; the global weekly shipping volume decreased by 196.4 to 3279.0, a 5.7% decrease. - The weekly average daily pig iron output of 247 steel mills decreased by 0.6 to 241.8, a 0.2% decrease; the weekly average daily port clearance volume at 45 ports decreased by 336.4 to 0.0, a 100.0% decrease. [4] Report on the Coke and Coking Coal Industry Investment Rating No investment rating provided in the report. Core Viewpoints Coke - After the holiday, there is an expectation of another round of price increases for coke, but due to the decline in steel prices and the compression of steel mill profits, there may be downward pressure on prices. Since the pre - holiday decline in the futures market has already factored in some of the downward expectations, the further downward space is limited, and the market is expected to fluctuate. - For trading strategies, operate in a fluctuating market with a price range of 1550 - 1650. Go long on coke and short on coking coal, and buy out - of - the - money call options on coke 2601 (over - the - counter) to bet on the post - holiday restocking expectation. [8] Coking Coal - Although there have been some disturbances on the supply side, considering the pre - holiday weak operation of the coking coal market, the impact is expected to be limited. The long - term import trade of coking coal will still maintain high profits, and the post - holiday customs clearance volume is expected to remain high, which will have a certain impact on the domestic coking coal market. Since the pre - holiday decline in the futures market has already factored in some of the downward expectations, the market is expected to fluctuate. - For trading strategies, operate in a fluctuating market with a price range of 1080 - 1180. Go long on coke and short on coking coal, and buy out - of - the - money call options on coking coal 2601 (over - the - counter) to bet on the policy - driven production reduction expectation. [8] Summary by Directory Coke - Related Prices and Spreads - The prices of coke contracts generally declined. For example, the 01 - contract price of coke decreased by 24 to 1623, a 1.5% decrease. The 01 - contract basis increased by 24. [8] Coking Coal - Related Prices and Spreads - The prices of coking coal contracts also declined. For example, the 01 - contract price of coking coal decreased by 28 to 1126, a 2.4% decrease. The 01 - contract basis increased by 23. [8] Supply and Demand - Coke production decreased slightly. The daily average output of all - sample coking plants decreased by 0.3 to 66.1, a 0.4% decrease. - The pig iron output decreased by 0.6 to 241.8, a 0.2% decrease. - Coke inventory decreased slightly, while coking coal inventory in some sectors increased. For example, the inventory of all - sample coking plants' coking coal increased by 38.6 to 1037.7, a 3.9% increase. [8]

Core Viewpoint - The recent fluctuations in coking coal futures indicate a potential rebound in coking prices, driven by supply constraints and steady downstream demand, despite some steel mills experiencing profit declines [6] Supply - As of September 25, the average daily coking coal production from independent coking plants was 663,000 tons, a week-on-week decrease of 4,000 tons [3] - The total coking coal production from 247 steel mills was 464,000 tons per day, also down by 2,000 tons week-on-week, leading to a total production of 1,128,000 tons per day, a decrease of 6,000 tons week-on-week [3] Demand - The average daily pig iron production was 2,423,600 tons, an increase of 13,400 tons week-on-week [4] - The blast furnace operating rate was 84.45%, up by 0.47% week-on-week, while the capacity utilization rate for pig iron production was 90.86%, an increase of 0.50% week-on-week [4] - The profitability rate for steel mills was 58.01%, down by 0.86% week-on-week [4] Inventory - As of September 25, the total coking coal inventory was 9.816 million tons, an increase of 97,000 tons week-on-week [5] - Independent coking enterprises held 630,000 tons of coking coal inventory, a decrease of 34,000 tons week-on-week, while the inventory at 247 steel mills was 6.613 million tons, an increase of 166,000 tons week-on-week [5] - Port inventory stood at 2.573 million tons, down by 35,000 tons week-on-week [5] Price Trends - As of September 25, the main coking coal futures contract (2601) rose by 30.0 (+1.73%) to 1,760.0, while the far-month contract (2605) increased by 29.0 (+1.55%) to 1,900.0 [1] - The price of premium wet quenching metallurgical coke in Lüliang was reported at 1,240 yuan/ton, unchanged from the previous day, while the trade price in Rizhao was 1,490 yuan/ton, an increase of 40 yuan [1][6] Market Outlook - The recent price adjustments by major steel mills, with a cumulative reduction of 50/55 yuan/ton, have led to expectations of a gradual rebound in coking coal prices, potentially allowing for 2-3 rounds of price increases [6] - The steel industry is under pressure to control production capacity and reduce pollution, with a focus on the actual implementation of these measures in Shanxi province [6] - The market is advised to monitor the fluctuations in the steel market and the fulfillment of seasonal demand expectations during September and October [6]

Core Viewpoint - The main focus of the news is the recent surge in coking coal futures, with the primary contract reaching a peak of 1767.0 yuan, reflecting a 2.23% increase, and the market outlook from various institutions regarding future trends in coking coal prices [1][2]. Group 1: Market Performance - Coking coal futures experienced a rapid increase, with the main contract peaking at 1767.0 yuan and closing at 1764.0 yuan, marking a 2.23% rise [1]. Group 2: Institutional Perspectives - **Everbright Futures**: Anticipates a wide range of fluctuations in the coking coal market in the short term, driven by rising raw material costs and stable production levels from coking enterprises, alongside increased demand from steel mills due to upcoming holidays [2]. - **Zhonghui Futures**: Notes that the supply and demand for coking coal are relatively balanced, with production remaining stable and a slight increase in iron output, suggesting a cautious outlook on the market [3]. - **Dayue Futures**: Expects coking coal prices to stabilize in the short term, supported by strong raw material prices and steady demand from coking enterprises, despite weak steel demand limiting inventory replenishment [4].

Group 1: Steel Industry Report Industry Investment Rating - Not provided Core View - Steel prices are expected to maintain a high - level oscillating trend. The reference range for rebar is 3100 - 3350 yuan/ton, and for hot - rolled coils is 3300 - 3500 yuan/ton. It is recommended to try long positions with light positions and pay attention to the seasonal recovery of apparent demand. The spread between hot - rolled coils and rebar is expected to continue to converge [1]. Summary by Directory - **Prices and Spreads**: Rebar and hot - rolled coil spot and futures prices mostly declined. For example, rebar 05 contract decreased from 3244 to 3212 yuan/ton, and hot - rolled coil 01 contract decreased from 3380 to 3340 yuan/ton [1]. - **Cost and Profit**: The cost of billets and slabs remained unchanged. The profit of hot - rolled coils in different regions and the profit of rebar in different regions showed various changes, such as the profit of hot - rolled coils in East China increasing by 16 [1]. - **Output**: The daily average molten iron output increased slightly by 0.2% to 241.0 tons. The output of five major steel products decreased by 0.2% to 855.5 tons, with rebar output decreasing by 2.6% to 206.5 tons and hot - rolled coil output increasing by 0.4% to 326.5 tons [1]. - **Inventory**: The inventory of five major steel products increased by 0.3% to 1519.7 tons. Rebar inventory decreased by 0.5% to 650.3 tons, and hot - rolled coil inventory increased by 1.3% to 378.0 tons [1]. - **Transaction and Demand**: The building materials trading volume increased by 0.8% to 11.5 tons. The apparent demand for five major steel products increased by 0.8% to 850.3 tons, the apparent demand for rebar increased by 6.0% to 210.0 tons, and the apparent demand for hot - rolled coils decreased by 1.3% to 321.8 tons [1]. Group 2: Iron Ore Industry Report Industry Investment Rating - Not provided Core View - Iron ore is currently in a tight - balance pattern. It is recommended to view it as oscillating upward. The reference range is 780 - 850. It is suggested to go long on the iron ore 2601 contract on dips, and the arbitrage strategy is to go long on iron ore and short on hot - rolled coils [4]. Summary by Directory - **Prices and Spreads**: The warehouse receipt costs of various iron ore powders decreased slightly, such as the warehouse receipt cost of PB powder decreasing from 848.0 to 842.5 yuan/ton. The basis of the 01 contract for various powders decreased significantly, for example, the 01 contract basis of PB powder decreased from 82.0 to 40.0 yuan/ton [4]. - **Supply**: The weekly arrival volume at 45 ports increased by 13.2% to 2675.0 tons, and the global weekly shipping volume decreased by 6.9% to 3324.8 tons. The monthly national import volume increased by 0.6% to 10522.5 tons [4]. - **Demand**: The weekly average daily molten iron output of 247 steel mills increased by 0.2% to 241.0 tons, the weekly average daily port clearance volume at 45 ports increased by 2.4% to 339.2 tons. The monthly national pig iron output decreased by 1.4% to 6979.3 tons, and the monthly national crude steel output decreased by 2.9% to 7736.9 tons [4]. - **Inventory**: The inventory at 45 ports increased by 0.9% to 13930.97 tons, the imported ore inventory of 247 steel mills increased by 3.5% to 9309.4 tons, and the available days of inventory for 64 steel mills increased by 10.0% to 22.0 days [4]. Group 3: Coke and Coking Coal Industry Report Industry Investment Rating - Not provided Core View - **Coke**: It is recommended to go long on the coke 2601 contract on dips, with a reference range of 1650 - 1800. The arbitrage strategy is to go long on coking coal and short on coke. - **Coking Coal**: It is recommended to go long on the coking coal 2601 contract on dips, with a reference range of 1150 - 1300. The arbitrage strategy is to go long on coking coal and short on coke [6]. Summary by Directory - **Prices and Spreads**: For coke, the price of Shanxi quasi - first - grade wet - quenched coke remained unchanged, and the price of Rizhao Port quasi - first - grade wet - quenched coke decreased by 1.3%. For coking coal, the price of Shanxi medium - sulfur main coking coal increased by 3.3%, and the price of Mongolian 5 raw coal increased by 2.6% [6]. - **Supply**: The weekly coke output remained unchanged at 762 tons. The daily average output of full - sample coking plants decreased by 0.1% to 66.7 tons, and the daily average output of 247 steel mills increased by 0.2% to 241.0 tons. The weekly output of Fenwei sample coal mines increased by 1.3% to 872.5 tons, and the clean coal output increased by 1.8% to 450.6 tons [6]. - **Demand**: The weekly molten iron output increased by 0.2% to 241.0 tons, and the weekly coke output remained unchanged at 762 tons [6]. - **Inventory**: The total coke inventory increased by 1.0% to 915.2 tons. The coke inventory of full - sample coking plants decreased by 2.1% to 66.4 tons, and the coke inventory of 247 steel mills increased by 1.8% to 644.7 tons. The coking coal inventory of full - sample coking plants increased by 6.4% to 940.4 tons, and the coking coal inventory of 247 steel mills decreased by 0.4% to 790.3 tons [6]. - **Supply - Demand Gap**: The coke supply - demand gap decreased by 6.5% to - 3.3 tons [6].