Group 1: Report Industry Investment Rating - No information provided Group 2: Core View of the Report - Raw material demand remains relatively high, but coal mine production cuts are lower than expected, leading to a slight inventory build - up at mines, which drags down the market. In the short term, market sentiment is still volatile, and coal - coke prices will fluctuate [4] Group 3: Summary by Related Aspects Market Conditions - Yesterday, coal - coke futures prices oscillated weakly. The 09 contract entered the delivery month, and with weak buy - delivery willingness, the futures price shifted from premium to flat or even discount, pulling down other contract prices. On the spot side, some high - priced coal resources at coal mines had weak sales, and prices were weakly stable. Last week, Hebei coke enterprises started the 8th round of price increase, but major steel mills didn't respond, while some regional steel mills planned price cuts, and the market entered a game period [3] Supply Side (Coal Mines) - Last week, coal mines in the main production areas of Shanxi reduced production intensively. In Lvliang, some coal mines were affected by geological conditions, and safety inspections in Linfen were stricter, resulting in a significant decline in coal production. By tracking the resumption progress of shut - down coal mines, coal production is likely to increase slightly next week, but before September 3, main production area coal mines will focus on safety production, and some coal mines may have short - term production cuts [3] Demand Side (Steel Mills) - Last week's data showed that steel mills had no obvious production cut actions, and hot metal production remained high. The overall production restriction intensity was weaker than that during the 2019 military parade. The profitability rate of 247 steel mills was 63.64%, a decrease of 1.30 percentage points from last week and an increase of 59.74 percentage points compared to last year. The blast furnace iron - making capacity utilization rate was 90.02%, a decrease of 0.23 percentage points from last week and an increase of 7.06 percentage points compared to last year. The daily average hot metal output was 240.13 tons, a decrease of 0.62 tons from last week and an increase of 19.24 tons compared to last year [3]