Group 1 - The coking coal futures market is experiencing a volatile upward trend, with the main contract priced at 1152.5 CNY/ton, reflecting a 2.81% increase as of January 29 [1] - The capacity utilization rate of 523 coking coal mines is reported at 89.1%, a decrease of 0.2% compared to the previous period. The average daily output of raw coal is 1.978 million tons, down by 16,000 tons, while raw coal inventory stands at 5.496 million tons, decreasing by 109,000 tons [2] - Mongolian ER Company conducted an online auction for coking coal on January 29, with the starting price for Mongolian 3 premium coal set at 800 CNY/ton. All 12,800 tons offered were sold at a price of 870 CNY/ton, which is an increase of 10 CNY/ton from the previous day [2] Group 2 - Ningzheng Futures indicates that downstream enterprises are still in the winter storage phase, and production from coal mines is expected to decline as the holiday approaches. The fundamentals of coking coal are likely to show marginal improvement, with slight upward momentum in the spot market, although further upward drive in the futures market is limited [4] - Zhongyuan Futures notes that spot sales for port trading companies are poor, with low inquiry levels and insufficient purchasing willingness. The Ganchi Maodu port maintains high inventory levels, and approximately 30% of coking coal auctions in production areas have failed to sell. Steel mills in Hebei and Tianjin are accepting the first round of price increases for coke, planned for implementation on January 30. However, due to a slowdown in downstream replenishment actions, the upward momentum for both coking coal and coke remains limited, suggesting a volatile market outlook [4]