Group 1 - The coal futures market in China has shown significant upward movement, particularly in coking coal, with the main contract opening at 1633.0 CNY/ton and reaching a high of 1668.0 CNY, reflecting an increase of approximately 2.51% [1] - Current market sentiment indicates a potential shift as institutions suggest that the coking coal market may enter a price reduction cycle in August, with recommendations for hedging and profit-taking on existing positions [1] - The overall supply and demand for coking coal remains relatively balanced, with production and inventory levels stable, although market sentiment is expected to cool down [1] Group 2 - Recent significant declines in coking coal and coke futures have not been mirrored in the spot market, which continues to show upward trends, indicating a lag in the spot market compared to futures [2] - The tight supply in the spot market driven by supply-demand dynamics suggests that there is still potential for price increases, and a phase of downward movement in futures may be coming to an end [2] - The market is anticipated to enter a phase of consolidation, awaiting further developments in the supply-demand relationship following potential price increases in the spot market [2]