机构 核心观点 光大期货 预计短期焦炭盘面呈现宽幅震荡偏弱运行态势 国信期货 焦炭近月盘面承压下行，建议偏空思路操作 大越期货 预计短期焦炭偏弱运行 光大期货：预计短期焦炭盘面呈现宽幅震荡偏弱运行态势 综合来看，焦煤价格回落环节焦化企业成本压力，第一轮焦炭提降落地后焦企利润虽有回落，但是依然 维持正向利润，焦化企业的生产积极性尚可，焦企开工均有所回升，焦炭供应维持宽松，不过终端需求 延续弱势，高炉铁水产量也继续回落，对于焦炭的需求环比走弱，部分市场参与者担忧焦煤价格继续松 动，预计短期焦炭盘面呈现宽幅震荡偏弱运行态势。 国信期货：焦炭近月盘面承压下行，建议偏空思路操作 近期原料价格下跌，让利焦化行业，焦企利润好转，开工积极性增加，开工率回升，焦炭日均产量回 升。需求方面，上周钢厂高炉开工率以及日均铁水产量周环比继续下降，真实需求边际走弱。基本面供 增需减，焦企现货市场博弈力量偏弱，现货价格提降落地，近月盘面承压下行，建议偏空思路操作。 12月8日盘中，焦炭期货主力合约遭遇一波急速下挫，最低下探至1523.5元。截止发稿，焦炭主力合约 报1530.0元，跌幅6.22%。 焦炭期货主力跌超6%，对于后市行情如何， ...

11月10日盘中，焦炭期货主力合约遭遇一波急速下挫，最低下探至1731.0元。截止发稿，焦炭主力合约 报1749.5元，跌幅0.85%。 焦炭期货主力跌近1%，对于后市行情如何，相关机构该如何评价？ 瑞达期货（002961） 焦炭宽幅震荡运行对待 中辉期货：焦炭跟随焦煤价格区间运行 焦炭第三轮提涨落地，市场开启第四轮提涨。近期焦企利润小幅改善但仍多处亏损状态。从需求来看， 铁水产量再次回落，近期钢厂利润表现不佳，高炉检修增多，但原料库存水平中性偏低，短期补库积极 性尚可。目前供需矛盾相对有限，跟随焦煤价格区间运行。 大越期货：焦炭2601：1720-1770区间操作 当前焦企厂内库存水平不高，加之部分企业因亏损加大限产意愿，导致局部焦炭资源供应偏紧。然受终 端需求持续疲软以及钢厂利润空间持续收缩影响，钢厂让利空间有限，短期内焦钢企业将出现博弈态 势，预计短期焦炭或暂稳运行。焦炭2601：1720-1770区间操作。 瑞达期货：焦炭宽幅震荡运行对待 宏观面，近日，湖南岳阳平江县出台新规，成为湖南首个全面推行现房销售的县城。基本面，需求端， 本期铁水产量延续季节性回落，铁水产量234.22，-2.14万吨，焦炭总 ...

Core Viewpoint - The coal futures market in China, particularly for coke, is experiencing a strong upward trend, with fluctuations in prices driven by supply constraints and demand dynamics [1][2]. Group 1: Supply Dynamics - The price of coking coal has risen sharply, increasing production costs for coke producers, which has led to a deterioration in profit margins for some companies, prompting expectations of production cuts [1]. - Safety inspections in major coal-producing regions are tightening, contributing to supply constraints [2]. Group 2: Demand Dynamics - Steel mills are maintaining high operating rates, but their profits are under pressure, leading to a focus on purchasing based on immediate needs [1]. - There is a noticeable decrease in metallurgical coke inventory at some steel mills, indicating an increase in procurement demand [1]. Group 3: Market Outlook - Analysts expect the coke market to experience wide fluctuations in the short term, with potential upward price pressure due to rising production costs and stable demand from steel mills [1][2]. - The market is closely watching whether coke prices can effectively break through existing resistance levels [2].

Core Viewpoint - The main focus of the news is the recent decline in coking coal futures, with the primary contract dropping to a low of 1607.0 yuan and closing at 1626.0 yuan, reflecting a decrease of 1.36% [1]. Group 1: Market Analysis - Coking coal supply and demand are relatively balanced, with prices following a weak trend in coking coal [2][3]. - The second round of price increases for coking coal has been delayed, indicating a clear competition between coking enterprises [2]. - Coking enterprises are experiencing average profits of 9 yuan per ton of coking coal, with production remaining stable [4]. Group 2: Demand and Production Insights - The average daily pig iron output from sample steel mills is slightly down by 0.55 million tons, but remains at a high level, indicating stable demand [3][4]. - During the recent holiday period, downstream industries consumed inventory, leading to a focus on demand-driven procurement [3]. - The overall inventory of coking coal is higher compared to the same period last year, suggesting a cautious approach to production and inventory management [4]. Group 3: Recommendations - Institutions suggest a short-term trading strategy due to the current market volatility in coking coal prices [3]. - Investors are advised to be mindful of risk control while navigating the current market conditions, as technical indicators show fluctuations [4].