Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The current supply - demand contradiction in the coking coal market is general, and prices are mainly fluctuated by market sentiment. In the last week before the Spring Festival, attention should be paid to the control of position risks [2] 3. Summary by Related Catalogs Market Trend - Last week, coking coal futures prices were boosted by the rumor of Indonesia cutting production quotas but then fell after the information was deemed invalid. Recently, the overall trend of steel and ore has been weak, and the seasonal off - season has restricted the rebound height of coking coal [2] Fundamental Situation - Last week, domestic coal mines began to stop production for holidays. Mines in Yunnan and Jinzhong, Shanxi had earlier holidays, with a significant decline in production. Around the 23rd day of the 12th lunar month, private coal mines will enter the peak holiday period, and production will drop significantly. Last week, the daily production of raw coal and clean coal was 1.925 million tons and 755,000 tons respectively, a decrease of 53,000 tons and 16,000 tons respectively compared with the previous week. The expected reduction in coal volume supports coal prices, but the production cut is in line with previous years' rules, and downstream has stocked up in advance, so there is no driving force for continuous price increase. On the demand side, steel mill production is relatively stable, with the daily average hot metal output maintained at around 2.28 million tons [2]