每日观点 焦煤： 1、基本面：煤矿有所复产，但目前产量仍在低位，安监等扰动较多，供应有所受限。下游焦企近期补 库节奏稍有放缓，尤其对高价煤种开始偏谨慎采购，市场涨价氛围有所降温，线上竞拍资源受情绪影响 有下跌现象。但煤矿由于库存低位，且有预售订单，报价比较坚挺，部分煤种价格仍在小幅上涨；偏多 2、基差：现货市场价1430，基差211；现货升水期货；偏多 3、库存：钢厂库存781.1万吨，港口库存295万吨，独立焦企库存819.3万吨，总样本库存1895.4万吨， 较上周减少76.2万吨；偏多 4、盘面：20日线向上，价格在20日线下方；中性 5、主力持仓：焦煤主力净空，空减；偏空 6、预期：焦炭价格经过三轮向上修复，焦企利润压力有所减轻。然钢厂利润有所下行，加之焦钢企业 仍处于四轮涨价博弈之中，目前市场情绪以观望为主。但考虑焦企仍有补库需求，短期炼焦煤价格仍有 上涨预期，但涨幅有限，预计短期焦煤价格或暂稳运行。 交易咨询业务资格：证监许可【2012】1091号 焦煤焦炭早报（2025-11-13） 大越期货投资咨询部 胡毓秀 从业资格证号：F03105325 投资咨询证：Z0021337 联系方式：0575- ...

Report Summary 1. Report Industry Investment Rating No information provided regarding the industry investment rating. 2. Core Views - **Coking Coal**: The coking coal market continues to be strong due to tight supply and active restocking by downstream coke enterprises. After the third round of coke price increases, the cost pressure has eased, and demand for high - quality coking coal remains strong. However, some high - priced resources have low downstream acceptance. It is expected that the coking coal price will remain stable in the short term [2]. - **Coke**: After the third round of price increases, coke enterprises are optimistic, but high coking coal prices keep profits near the break - even point. Supply remains tight in the short term. With high raw material costs, coke production increases slowly. Terminal pig iron production remains at a medium - high level, and steel mills still have restocking needs. It is expected that the coke price will remain stable in the short term [6]. 3. Summary by Relevant Catalogs Daily Views - **Coking Coal** - **Fundamentals**: Supply in major producing areas is tight, with strict environmental and safety controls. Downstream restocking and reduced supply lead to inventory reduction. After the third round of coke price increases, the market is strong [2]. - **Basis**: The spot price is 1430, and the basis is 139.5, indicating that the spot price is higher than the futures price [2]. - **Inventory**: Total sample inventory is 1895.4 tons, a decrease of 76.2 tons from last week, including 781.1 tons in steel mills, 295 tons in ports, and 819.3 tons in independent coke enterprises [2]. - **Market**: The 20 - day line is upward, and the price is above the 20 - day line [2]. - **Main Position**: The main position of coking coal is net long, and the long position increases [2]. - **Expectation**: After the third - round price increase of coke, the cost pressure eases, and demand for high - quality coking coal remains strong. However, some high - priced resources have low acceptance, and the price is expected to remain stable [2]. - **Coke** - **Fundamentals**: After the third - round price increase, coke enterprises are optimistic, but high coking coal prices keep profits near the break - even point. Supply remains tight in the short term [6]. - **Basis**: The spot price is 1720, and the basis is - 56.5, indicating that the spot price is lower than the futures price [6]. - **Inventory**: Total sample inventory is 888.4 tons, a decrease of 8.1 tons from last week, including 650.8 tons in steel mills, 195.1 tons in ports, and 42.5 tons in independent coke enterprises [6]. - **Market**: The 20 - day line is upward, and the price is above the 20 - day line [6]. - **Main Position**: The main position of coke is net short, and the short position decreases [6]. - **Expectation**: High raw material costs slow down production increases. Pig iron production remains at a medium - high level, and steel mills have restocking needs. The price is expected to remain stable [6]. Factors Affecting Prices - **Coking Coal** - **Positive**: Pig iron production increases, and supply is difficult to increase [4]. - **Negative**: Coke and steel enterprises slow down raw material coal procurement, and steel prices are weak [4]. - **Coke** - **Positive**: Pig iron production and blast furnace operating rates increase [8]. - **Negative**: Steel mill profit margins are squeezed, and restocking demand is partially overdrawn [8]. Inventory - **Port Inventory**: Coking coal port inventory is 295 tons, a decrease of 0.1 tons from last week; coke port inventory is 195.1 tons, an increase of 1 ton from last week [18]. - **Independent Coke Enterprises Inventory**: Coking coal inventory is 819.3 tons, a decrease of 69.2 tons from last week; coke inventory is 42.5 tons, an increase of 3.5 tons from last week [22]. - **Steel Mill Inventory**: Coking coal inventory is 803.8 tons, an increase of 4.3 tons from last week; coke inventory is 626.7 tons, a decrease of 13.3 tons from last week [27]. Other Data - **Coke Oven Capacity Utilization**: The capacity utilization rate of 230 independent coke enterprises is 74.48% [40]. - **Average Profit per Ton of Coke**: The average profit per ton of coke for 30 independent coking plants is 25 yuan [44].

Report Summary 1. Report Industry Investment Rating There is no information provided in the report regarding the industry investment rating. 2. Core Views - **焦煤**: The supply of coking coal in the main production areas is tightening, with coal mines strictly controlling over - production and strict environmental and safety measures in various regions. The downstream coke market is improving, and coal prices are expected to be stable in the short term. Although some steel mills have accepted the third round of coke price increases, and coke enterprises' profits have been repaired, they are still cautious about high - priced coal due to limited profits [2]. - **焦炭**: With the partial implementation of the third round of coke price increases, coke enterprises' profits have been repaired, but the rising raw coal prices have put pressure on profits. The supply side is tightening, and coke prices are expected to be stable in the short term, supported by cost and certain demand from steel mills [6]. 3. Summary by Relevant Catalogs **Price** - **焦煤**: On November 4, 2025, at 17:30, the prices of imported Russian and Australian coking coal were listed, with some prices having a 150 - yuan increase [9]. - **焦炭**: On November 4, 2025, at 17:30, the port metallurgical coke price indices showed that prices varied by port, grade, and production area [10]. **Inventory** - **Port Inventory**: The coking coal port inventory was 295 million tons, a decrease of 0.1 million tons from last week; the coke port inventory was 195.1 million tons, an increase of 1 million tons from last week [18]. - **Independent Coking Enterprises Inventory**: Independent coking enterprises' coking coal inventory was 819.3 million tons, a decrease of 69.2 million tons from last week; their coke inventory was 42.5 million tons, an increase of 3.5 million tons from last week [22]. - **Steel Mill Inventory**: Steel mills' coking coal inventory was 803.8 million tons, an increase of 4.3 million tons from last week; their coke inventory was 626.7 million tons, a decrease of 13.3 million tons from last week [27]. **Other Data** - **洗煤厂**: There is information on the inventory of raw coal, clean coal, and clean coal production of coal washing plants, but specific data is not fully presented [30][33][36]. - **焦炉产能利用率**: The capacity utilization rate of 230 independent coking enterprises nationwide was 74.48% [40]. - **吨焦平均盈利**: The average profit per ton of coke for 30 independent coking plants nationwide was 25 yuan [44]. - **焦炭 production**: There is information on daily and monthly coke production, but specific data is not fully presented [46][49]. - **高炉开工率 and 铁水产量**: There is relevant information, but specific data is not fully presented [51][54].

交易咨询业务资格：证监许可【2012】1091号 焦煤焦炭早报（2025-10-21） 大越期货投资咨询部 胡毓秀 从业资格证号：F03105325 投资咨询证：Z0021337 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 每日观点 焦煤： 1、基本面：当前焦钢企业原料库存处较低水平，补库需求仍存，且焦炭第一轮全面提涨，矿方心态向 好，支撑部分煤价稳中上涨，但下游焦企及中间商对高价煤源抵触情绪仍存，市场交投氛围稍有回落， 部分煤价继续波动调整，整体市场趋于稳定；中性 2、基差：现货市场价1300，基差84；现货升水期货；偏多 3、库存：钢厂库存781.1万吨，港口库存295万吨，独立焦企库存819.3万吨，总样本库存1895.4万吨， 较上周减少76.2万吨；偏多 6、预期：下游焦钢企业开工率持稳，铁水产量波动不大，刚需较为稳定。但焦钢利润多处盈亏边缘， 部分有所亏损，焦钢企业均有不同程度限产或检修，影响原料煤需求略有回落。加之当前 ...

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - The terminal demand shows signs of weakening, and the procurement rhythm of the downstream of coking coal and coke has slowed down. However, the hot metal production remains at a high level, maintaining the rigid demand. Coupled with the reduction disturbances on the supply side of both coking coal and coke, the futures prices are still in a state where they are prone to rise and difficult to fall after a correction, but the upward momentum is expected to weaken. For trading strategies, it is recommended to stay on the sidelines for single - sided trading and maintain the reverse spread of coking coal September - January contracts [4][9]. 3. Summary According to the Directory 3.1 Coke Weekly Market Tracking 3.1.1 Price - The futures price first rose and then fell last week. It is still difficult to decline in the short term, but the upward momentum is weakening. The sixth round of spot price increase has been implemented. Coke 01 contract fell 0.25% to 1729.5 as of Friday's close. Freight rates were stable with a slight increase [7][9][17]. 3.1.2 Supply - The profitability of coking enterprises improved slightly, and the supply of independent coking enterprises increased slightly. As of August 15, the capacity utilization rate of the full - sample of independent coking enterprises was 74.34%, a week - on - week increase of 0.31 percentage points; the daily average coke output was 65.38 tons, a week - on - week increase of 0.28 tons. The capacity utilization rate of 247 steel mills' coking plants was 86.17%, a week - on - week decrease of 0.13 percentage points; the daily average coke output was 46.73 tons, a week - on - week decrease of 0.07 tons [23][25][30]. 3.1.3 Demand - The hot metal production remained at a high level, providing strong rigid demand support. Some steel mills with low inventory were still urging delivery, and the inventory of coking enterprises continued to decrease. However, the speculative sentiment was average, the export profit declined slightly, and the improvement in the daily trading volume of building materials spot was not sustainable. As of August 15, the blast furnace operating rate of 247 sample steel mills was 83.59%, a week - on - week decrease of 0.16 percentage points; the capacity utilization rate was 90.22%, a week - on - week increase of 0.13 percentage points; the daily average hot metal output was 240.66 tons, a week - on - week increase of 0.34 tons; the profitability rate of steel mills was 65.8%, a week - on - week decrease of 2.6 percentage points [31][33][37]. 3.1.4 Inventory - Inventories decreased across all sectors, and the total inventory declined. As of August 15, the total coke inventory decreased by 19.74 tons week - on - week to 887.42 tons. Among them, the port inventory decreased by 3.04 tons week - on - week to 215.11 tons; the inventory of the full - sample of independent coking enterprises decreased by 7.22 tons week - on - week to 62.51 tons; the inventory of 247 sample steel mills decreased by 9.48 tons week - on - week to 609.80 tons [38][40][43]. 3.1.5 Profit - The profitability of coking enterprises improved slightly, while the futures profit of coke continued to decline. The profit per ton of coke for 30 independent coking enterprises was 20 yuan/ton, a week - on - week increase of 36 yuan. The futures profit of coke 01 decreased by 8.4 yuan/ton week - on - week to 130.5 yuan/ton [48][50]. 3.1.6 Valuation - The premium of coke 01 converged, and the 1 - 5 spread continued to weaken. The basis of coke 01 increased by 58.3 week - on - week to - 148.16, and the 1 - 5 spread decreased by 19 week - on - week to - 102 [52][54]. 3.2 Coking Coal Weekly Market Tracking 3.2.1 Price - The futures price first rose and then fell last week. It is still difficult to decline in the short term, but the upward momentum is weakening. The spot price showed a mixed trend. Coking coal 01 contract rose 0.24% to 1230 as of Friday's close [57][59][60]. 3.2.2 Supply - The supply from production areas was still restricted, the output of coal washing plants increased slightly, the number of customs - cleared vehicles of Mongolian coal rebounded, and the import of coking coal from January to June decreased year - on - year. As of August 15, the capacity utilization rate of 314 sample coal washing plants was 36.51%, a week - on - week increase of 0.29 percentage points; the daily average output of clean coal was 26.4 tons, a week - on - week increase of 0.36 tons. From January to June 2025, China's cumulative import of coking coal was 52.9 million tons, with a cumulative year - on - year growth rate of - 7.26% [63][68][71]. 3.2.3 Inventory - The downstream inventory decreased, the upstream inventory increased slightly, and the total inventory decreased slightly. As of August 15, the total coking coal inventory decreased by 14.82 tons week - on - week to 2592.87 tons. Among them, the inventory of mining enterprises increased by 12.01 tons week - on - week to 257.67 tons; the port inventory decreased by 21.85 tons week - on - week to 255.49 tons; the inventory of clean coal in coal washing plants increased by 8.92 tons week - on - week to 297.03 tons; the inventory of the full - sample of independent coking enterprises decreased by 11.04 tons week - on - week to 976.88 tons; the inventory of 247 sample steel mills decreased by 2.86 tons week - on - week to 805.8 tons [72][74][77]. 3.2.4 Valuation - Coking coal 01 maintained a large premium, the 9 - 1 spread fluctuated, and the 1 - 5 spread weakened. The basis of coking coal 01 decreased by 3 week - on - week to - 235. The 9 - 1 spread increased by 8 week - on - week to - 149.5, and the 1 - 5 spread decreased by 17 week - on - week to - 56 [100][102].

1. Report Industry Investment Rating - The report suggests an oscillating and bullish approach for both coking coal and coke, with a focus on risk control [2] 2. Core Viewpoints - On July 23, the coking coal 2509 contract closed at 1135.5, up 11.00%. The spot price of Meng 5 raw coal was reported at 900, up 40 yuan/ton. With strong macro - expectations and improved market confidence, the inventory is shifting from upstream to downstream, and the overall inventory is moderately high. The 4 - hour cycle K - line is above the 20 and 60 moving averages, so it should be treated with an oscillating and bullish view [2] - On July 23, the coke 2509 contract closed at 1707.5, up 3.83%. The coke enterprises started the second round of price hikes. The supply of raw materials is gradually improving, the iron - water output is at a high level, and most coal mines have no inventory pressure. The total coking coal inventory has increased for two consecutive weeks. The 4 - hour cycle K - line is above the 20 and 60 moving averages, so it should be treated with an oscillating and bullish view [2] 3. Summary by Related Catalogs 3.1 Futures Market - Coking coal: The JM main - contract closing price was 1135.50 yuan/ton, up 87.00 yuan; the futures contract holding volume was 748737.00 lots, down 24788.00 lots; the net holding volume of the top 20 contracts was - 63053.00 lots, up 3398.00 lots; the 1 - 9 month contract spread was 60.00 yuan/ton, down 28.50 yuan; the number of warehouse receipts was 0.00 [2] - Coke: The J main - contract closing price was 1707.50 yuan/ton, up 10.00 yuan; the futures contract holding volume was 52840.00 lots, down 1482.00 lots; the net holding volume of the top 20 contracts was - 4463.00 lots, down 89.00 lots; the 1 - 9 month contract spread was 35.50 yuan/ton, down 19.00 yuan; the number of warehouse receipts was 760.00 [2] 3.2 Spot Market - Coking coal: The price of Ganqimao Meng 5 raw coal was 900.00 yuan/ton, up 50.00 yuan; the price of Russian prime coking coal forward spot (CFR) was 120.00 US dollars/wet ton, unchanged; the price of Australian imported prime coking coal at Jingtang Port was 1460.00 yuan/ton, up 40.00 yuan; the price of Shanxi - produced prime coking coal at Jingtang Port was 1440.00 yuan/ton, unchanged; the price of medium - sulfur prime coking coal in LingShi, Jinzhong, Shanxi was 1250.00 yuan/ton, up 150.00 yuan; the ex - factory price of coking coal produced in Wuhai, Inner Mongolia was 1000.00 yuan/ton, up 20.00 yuan; the JM main - contract basis was 114.50 yuan/ton, up 63.00 yuan [2] - Coke: The price of Tangshan quasi - first - class metallurgical coke was 1445.00 yuan/ton, unchanged; the price of Rizhao Port quasi - first - class metallurgical coke was 1270.00 yuan/ton, unchanged; the price of Tianjin Port first - class metallurgical coke was 1370.00 yuan/ton, unchanged; the price of Tianjin Port quasi - first - class metallurgical coke was 1270.00 yuan/ton, unchanged; the J main - contract basis was - 262.50 yuan/ton, down 10.00 yuan [2] 3.3 Upstream Situation - Coking coal: The raw coal inventory of 110 coal washing plants was 298.69 million tons, down 2.08 million tons; the cleaned coal inventory was 191.54 million tons, down 5.53 million tons; the operating rate of 110 coal washing plants was 62.85%, up 0.52%; the raw coal production was 42107.40 million tons, up 1779.00 million tons; the import volume of coal and lignite was 3304.00 million tons, down 300.00 million tons; the daily average raw coal output of 523 coking coal mines was 192.90 million tons, up 1.10 million tons; the import coking coal inventory at 16 ports was 553.50 million tons, down 0.29 million tons; the total coking coal inventory of independent coking enterprises (full sample) was 929.11 million tons, up 36.76 million tons; the coking coal inventory of 247 steel mills was 791.10 million tons, up 8.17 million tons; the available days of coking coal for independent coking enterprises (full sample) was 12.63 days, up 0.15 days; the import volume of coking coal was 910.84 million tons, up 172.10 million tons; the coking coal production was 4070.27 million tons, up 144.11 million tons [2] - Coke: The coke inventory at 18 ports was 252.71 million tons, down 2.97 million tons; the coke inventory of independent coking enterprises (full sample) was 87.55 million tons, down 5.53 million tons; the coke inventory of 247 sample steel mills was 638.99 million tons, up 1.19 million tons; the available days of coke for 247 sample steel mills was 11.46 days, down 0.18 days; the export volume of coke and semi - coke was 51.00 million tons, down 17.00 million tons; the coke production was 4170.30 million tons, down 67.30 million tons; the capacity utilization rate of independent coking enterprises was 73.01%, up 0.14%; the average profit per ton of coke for independent coking plants was - 43.00 yuan/ton, up 20.00 yuan [2] 3.4 Downstream Situation - The blast furnace operating rate of 247 steel mills was 83.48%, up 0.35%; the blast furnace iron - making capacity utilization rate of 247 steel mills was 90.92%, up 1.05%; the crude steel production was 8318.40 million tons, down 336.10 million tons [2] 3.5 Industry News - The National Energy Administration will conduct a production check on coal mines in 8 provinces (regions) including Shanxi and Inner Mongolia [2] - Russian President Putin will visit China in September [2] - The US has reached trade agreements with the Philippines and Indonesia [2] - Germany has announced an investment initiative worth over 630 billion euros to boost the economy [2] - The Ministry of Industry and Information Technology will introduce a stable - growth plan for ten key industries [2] - The US Treasury Secretary will meet with the Chinese Finance Minister to discuss the extension of the agreement to avoid a significant tariff increase [2]

Report Summary Core Views - **Coking Coal**: The downstream coking and steel enterprises are in the replenishment cycle, which supports the raw coal price. However, due to limited profit margins, the downstream's acceptance of high - priced coal is limited, and the purchasing is cautious. The coking coal price is expected to remain stable in the short term [2]. - **Coke**: The steel mills' procurement demand is continuously released, leading to a rapid decline in coking enterprises' inventory. With restricted production capacity in the main producing areas and low inventory at all levels, the supply - demand pattern of coke is tightening. The rising raw coal price also supports the coke price, and it is expected to remain stable in the short term [6]. Factors Affecting Prices Coking Coal - **Positive Factors**: Rising pig iron output and limited supply increase [4]. - **Negative Factors**: Slower procurement of raw coal by coking and steel enterprises and weak steel prices [4]. Coke - **Positive Factors**: Rising pig iron output and increasing blast furnace operating rate [9]. - **Negative Factors**: Squeezed profit margins of steel mills and partially overdrawn replenishment demand [9]. Data Summary Inventory - **Coking Coal**: Port inventory is 312 million tons, a decrease of 1 million tons from last week; independent coking enterprises' inventory is 669.5 million tons, a decrease of 21.4 million tons; steel mills' inventory is 774 million tons, an increase of 3.1 million tons [2][19][22][25]. - **Coke**: Port inventory is 203.1 million tons, a decrease of 11.1 million tons from last week; independent coking enterprises' inventory is 87.3 million tons, a decrease of 1.1 million tons; steel mills' inventory is 642.8 million tons, a decrease of 3 million tons [19][22][25]. Other Data - **Coking Enterprises' Capacity Utilization**: The capacity utilization rate of 230 independent coking enterprises is 74%, the same as last week [36]. - **Average Profit per Ton of Coke**: The average profit per ton of 30 independent coking plants is - 46 yuan, a decrease of 27 yuan from last week [40].

Report Investment Rating - Not provided Core Views - The coking coal market is expected to continue its weak performance in the short term due to factors such as slow resumption of production in some coal mines, inventory accumulation, low downstream procurement enthusiasm, and weak steel demand [5]. - The domestic coke market is expected to remain weakly stable in the short term, facing dual pressures from the continuous decline of coking coal prices and the off - season of the steel market, with an oversupply situation [6]. Summary by Directory 1. Review and Outlook - **Coking Coal**: Last week, coking coal prices continued to be weak. Some coal mines in Changzhi and Linfen are slowly resuming production, while a few in Lvliang have slightly reduced production. Coal mine inventories have accumulated, downstream is pessimistic, and the main coking coal prices are still weak. Steel mills' daily hot - metal output decreased slightly, and steel demand is weak. Overall, it will continue to be weak in the short term [5]. - **Coke**: The domestic coke market was weak last week. After the third price cut, steel mills continued to pressure top - loaded coke. Coke enterprises' production decreased slightly, and average coke - per - ton profit turned slightly negative. The market is facing dual pressures, and it is expected to remain weakly stable in the short term [6]. 2. Fundamental Analysis - **Inventory**: - Port inventory: Coking coal port inventory decreased by 1 million tons to 312 million tons, and coke port inventory decreased by 11.1 million tons to 203.1 million tons [12]. - Independent coke enterprise inventory: Coking coal inventory decreased by 21.4 million tons to 669.5 million tons, and coke inventory decreased by 1.1 million tons to 87.3 million tons [15]. - Steel mill inventory: Coking coal inventory increased by 3.1 million tons to 774 million tons, and coke inventory decreased by 3 million tons to 642.8 million tons [18]. - **Production and Utilization Rate**: - Coke oven capacity utilization rate: The capacity utilization rate of 230 independent coke enterprises remained flat at 74% compared with last week [28]. - Coke daily output: Not detailed here. - Coke monthly output: Not detailed here. - Blast furnace开工率: Not detailed here. - Hot - metal output: Steel mills' daily hot - metal output was 241.61 million tons, a decrease of 0.19 million tons compared with the previous week [5]. - **Profit**: The average profit per ton of coke for 30 independent coking plants was - 46 yuan, a decrease of 27 yuan compared with last week [32]. 3. Technical Analysis - Not provided

1. Report Industry Investment Rating - No relevant content provided 2. Core Views - **焦煤**: Main coal - producing areas have stable production. The second round of coke price increase is not yet implemented. Downstream coke enterprises purchase on - demand, and online auction transactions are weak. Total sample inventory decreased by 24.4 tons compared to last week. With high iron - water in steel mills, the rigid demand for coking coal is strong. However, due to general terminal finished product sales and falling billet prices, the market is cautious. Short - term prices are expected to be weakly stable [2]. - **焦炭**: Coke enterprises' production is stable. With the decline in coking coal prices, coke enterprises' profits are gradually repaired, and supply has increased. Downstream steel mills have good demand, and coke enterprises' inventories are low. Total sample inventory increased by 0.3 tons compared to last week. With high blast - furnace operating rates in steel mills and good demand, and coke enterprises having small profits, the supply - demand pattern is balanced. Short - term prices are expected to remain stable [5]. 3. Summary by Related Catalogs Price - **焦煤**: On April 30 (17:30), Russian coking coal prices ranged from 56 to 1320, and Australian coking coal prices ranged from 1130 to 1320 [8]. - **焦炭**: On April 30 (17:30), port metallurgical coke prices ranged from 1340 to 1830, with some prices having no change [9]. Inventory - **Port Inventory**: Coking coal port inventory was 324.8 tons, a decrease of 12.6 tons from last week; coke port inventory was 243.6 tons, a decrease of 2.5 tons from last week [19]. - **Independent Coke Enterprises Inventory**: Independent coke enterprises' coking coal inventory was 819.8 tons, a decrease of 10.1 tons from last week; coke inventory was 68.8 tons, an increase of 0.8 tons from last week [22]. - **Steel Mill Inventory**: Steel mills' coking coal inventory was 782.5 tons, a decrease of 1.7 tons from last week; coke inventory was 666.4 tons, an increase of 2 tons from last week [25]. Other Indicators - **Coke Oven Capacity Utilization**: The capacity utilization of 230 independent coke enterprises was 75.3%, an increase of 1.9% from last week [36]. - **Average Profit per Ton of Coke**: The average profit per ton of coke of 30 independent coking plants was - 9 yuan, an increase of 7 yuan from last week [40].