哈尔滨局集团有限公司将春节期间电煤运输作为首要民生任务，成立电煤保供专项工作组，实行24小时 值班值守机制，依托大数据平台和与企业对接的方式，每日精准掌握各大电厂电煤到达情况，动态跟踪 电厂日耗量、库存量、设备状况及运输需求等数据，通过实施"一企一策"精准服务，实现了从卸车对位 到进厂接驳的无缝衔接，确保电煤供应始终跑在消耗前面。 面对节日期间车流密集、极寒天气等多重考验，哈尔滨局集团有限公司充分发挥路网运输效能，通过优 化运输组织方案，科学编制调车作业计划，最大限度压缩车辆中转停留时间，确保电煤列车"即到即 解、即装即发"。 铁路部门加强与地方铁路联动，在客运列车密集时段精细规划到发线运用与运行路径，严格执行"四关 严守"标准，从列检作业、列尾装置、车辆防溜到现车信息逐一把关，坚决杜绝安全隐患，保障煤炭列 车安全正点。 据统计，哈尔滨局集团有限公司统筹客货运输成效显著。以齐齐哈尔车务段为例，已累计运输煤炭超22 万吨，有力支撑管内电厂、供热及重点企业运转，为群众温暖过冬和区域经济平稳运行筑牢铁路运输保 障。(完) 中新网黑龙江新闻2月19日电(隋彩霞)19日，记者从中国铁路哈尔滨局集团有限公司(以下简称"哈 ...

春节前夕，石家庄铁路物流中心建立电厂、煤企、铁路三方联络机制，实现电煤数据实时共享、调度运 输科学高效。同时，该中心针对辖区内14家大型电厂需要烟煤、贫瘦煤、无烟煤、低硫煤等多个煤种的 实际情况，协调煤炭发运企业调整好生产结构，确保各种煤源每天都按需到达、精准到达。 天津铁路物流中心担负着天津、唐山和秦皇岛等地区13家电厂的电煤保供任务，春节期间，该中心针对 各家电厂煤源需求、装卸能力、人力配置各有不同的特点，逐一研究运输方案，开辟绿色通道。面对春 节期间容易遇到的电煤集中到达导致卸车能力不足的问题，抽调足量卸车人力、物力、设备，迅速扩大 卸车和库存能力，确保电煤及时卸车、运至电厂。 （来源：千龙网） 正值春节、万家团圆，京津冀地区各地电厂满负荷生产、持续做好供暖工作。为充分满足管内电厂燃煤 需求，中国铁路北京局组织各铁路物流中心积极开辟电煤运输"绿色通道"，保障电煤高效运输，助力百 姓在温暖中过节。 北京铁路物流中心保障着北京市房山区、张家口市、承德市、保定市和廊坊市等多个地区百姓用暖需 求，其中特别是张家口、承德地区天气较冷，电煤保供责任重、压力大。为此，该中心成立电煤保供专 项工作组，实行24小时值班值 ...

1. Report Industry Investment Rating There is no information provided regarding the report industry investment rating in the given content. 2. Report's Core View - The overall sentiment in the commodity market is bullish, but the black - series is still in a bottom - range oscillation phase and is sensitive to marginal news. Traders need to be vigilant against rumor disturbances and strengthen information screening. In the short term, the macro - level is in a policy window period, and attention should be paid to the "dual - carbon" policy and its impact on the steel industry's supply - demand pattern [3]. - The bullish sentiment in the commodity market may continue, but there is a risk of short - term shocks and high volatility from previous "sentiment leaders" such as silver, platinum, and lithium carbonate. For manganese silicon and ferrosilicon, the future market will be influenced by the direction of the black sector and cost - push and supply - contraction factors [10][11]. - For industrial silicon and polysilicon, the demand side is weak, and the supply - demand situation is loose with inventory accumulation pressure. The price increase in the industrial chain has an emotional support for raw material prices, and the market should pay attention to terminal demand feedback and trading liquidity [14][16]. - For glass and soda ash, glass prices are rising due to cost support and supply contraction expectations, but the demand is weak in the off - season, and the price increase space is limited. Soda ash is strongly affected by market sentiment, and the market is in a game between weak fundamentals and external positive factors, with high volatility [19][22]. 3. Summary by Related Catalogs Steel Market Quotes - The closing price of the rebar main contract was 3187 yuan/ton, up 76 yuan/ton (2.442%) from the previous trading day. The registered warehouse receipts were 56,844 tons, unchanged from the previous day. The main contract's open interest was 1.7414 million lots, up 178,435 lots. The spot rebar price in Tianjin was 3180 yuan/ton, up 30 yuan/ton; in Shanghai, it was 3320 yuan/ton, up 40 yuan/ton [2]. - The closing price of the hot - rolled coil main contract was 3332 yuan/ton, up 69 yuan/ton (2.114%) from the previous trading day. The registered warehouse receipts were 103,995 tons, down 593 tons. The main contract's open interest was 1.3779 million lots, up 103,802 lots. The spot hot - rolled coil price in Lecong was 3300 yuan/ton, up 50 yuan/ton; in Shanghai, it was 3300 yuan/ton, up 40 yuan/ton [2]. Strategy View - The price of finished products has risen significantly driven by the strong raw material prices. The supply - demand contradiction of hot - rolled coils has been marginally alleviated, while the rebar inventory continues to decline. The winter storage participation is still cautious, and it is difficult to form a concentrated replenishment market. The black - series is in a bottom - range oscillation and is sensitive to news [3]. Iron Ore Market Quotes - The main iron ore contract (I2605) closed at 828.00 yuan/ton, with a change of +3.37% (+27.00), and the open interest increased by 25,713 lots to 666,600 lots. The weighted open interest was 999,700 lots. The spot price of PB fines at Qingdao Port was 832 yuan/wet ton, with a basis of 56.85 yuan/ton and a basis ratio of 6.42% [4]. Strategy View - The price of iron ore continued to rise. The overseas iron ore shipments decreased, and the near - end arrivals increased. The daily hot - metal output rebounded slightly, and the steel mills' profitability improved. The port inventory continued to accumulate, and the steel mills' imported ore inventory was still at a low level in the same period of the past five years, with some replenishment demand [5]. Manganese Silicon and Ferrosilicon Market Quotes - On January 7, the main manganese silicon contract (SM603) rose 1.39% to close at 6000 yuan/ton. The spot price of 6517 manganese silicon in Tianjin was 5750 yuan/ton, with a basis of 60 yuan/ton. The main ferrosilicon contract (SF603) rose 1.45% to close at 5860 yuan/ton. The spot price of 72 ferrosilicon in Tianjin was 5950 yuan/ton, with a basis of 90 yuan/ton [8]. Strategy View - The market's bullish sentiment may continue, but there is a risk of short - term shocks. The supply - demand pattern of manganese silicon is still loose, and that of ferrosilicon is basically balanced. The future market will be affected by the black sector's direction and cost - push and supply - contraction factors. Attention should be paid to the manganese ore supply and "dual - carbon" policy [10][11]. Industrial Silicon and Polysilicon Market Quotes - The main industrial silicon contract (SI2605) closed at 8980 yuan/ton, with a change of +0.90% (+80). The weighted contract's open interest increased by 18,796 lots to 379,966 lots. The spot price of non - oxygen - permeable 553 industrial silicon in East China was 9200 yuan/ton, unchanged from the previous day, with a basis of 220 yuan/ton; the price of 421 was 9650 yuan/ton, unchanged, with a basis of - 130 yuan/ton [13]. - The main polysilicon contract (PS2605) closed at 58,300 yuan/ton, with a change of - 1.79% (- 1065). The weighted contract's open interest decreased by 8838 lots to 116,672 lots. The average spot price of N - type granular silicon was 50.5 yuan/kg, unchanged; the average price of N - type dense material was 52.5 yuan/kg, unchanged; the average price of N - type re - feeding material was 53.5 yuan/kg, unchanged, with a basis of - 4800 yuan/ton [15]. Strategy View - The price of industrial silicon is affected by market sentiment, but its own supply - demand is weak, and inventory accumulation may continue. The demand for polysilicon is weak, and the supply - demand is loose with inventory accumulation pressure. The price increase in the industrial chain has an emotional support for raw material prices, and attention should be paid to terminal demand and trading liquidity [14][16]. Glass and Soda Ash Market Quotes - The glass main contract closed at 1148 yuan/ton on Wednesday, up 5.13% (+56). The price of large - size glass in North China was 1010 yuan, up 10 yuan from the previous day; in Central China, it was 1060 yuan, unchanged. The weekly inventory of float glass sample enterprises was 56.866 million cases, down 1.757 million cases (- 3.00%). The top 20 long - position holders increased 566 lots, and the top 20 short - position holders increased 633 lots [18]. - The soda ash main contract closed at 1271 yuan/ton on Wednesday, up 6.81% (+81). The price of heavy soda ash in Shahe was 1231 yuan, up 81 yuan from the previous day. The weekly inventory of soda ash sample enterprises was 1.4083 million tons, down 30,200 tons (- 3.00%), including 676,100 tons of heavy soda ash, down 26,900 tons, and 732,200 tons of light soda ash, down 3300 tons. The top 20 long - position holders reduced 7939 lots, and the top 20 short - position holders increased 32,712 lots [20]. Strategy View - Glass prices are rising due to cost support and supply contraction expectations, but the demand is weak in the off - season, and the price increase space is limited. Soda ash is strongly affected by market sentiment, and the market is in a game between weak fundamentals and external positive factors, with high volatility [19][22].

Group 1 - The core viewpoint of the news is that coking coal and coke futures have experienced significant price increases, with multiple contracts reaching their daily limit, indicating strong market demand and bullish sentiment in the coal sector [1][3][6] - The A-share coal sector saw substantial gains, with companies like Dayou Energy and Shanxi Coking Coal hitting their daily price limits, reflecting investor confidence in the coal market [1] - Coking coal futures main contracts surged by 8%, reaching a new high since November of the previous year, while coke futures also saw notable increases, with main contracts rising by 3.52% [3] Group 2 - A report indicated that the Yulin city government in Shaanxi province announced a reduction in coal production capacity by 1.9 million tons due to insufficient supply guarantees for electricity coal, affecting 26 out of 52 coal mines [4] - Despite the reduction in production capacity, industry insiders believe the actual market impact will be limited, as the reduced capacity represents only 3% of Yulin's projected coal output for 2025 [5] - The market is currently sensitive to positive news, which has overshadowed negative fundamental factors, leading to increased speculation about coal production and supply [5][6] Group 3 - Analysts noted that the recent price increases in black commodities, including coking coal, are driven by improved macroeconomic expectations and a recovery in steel mill profits, leading to increased raw material inventory replenishment [6][7] - The current inventory levels for steel mills and coking plants indicate that there is still room for replenishment, with iron ore and coking coal inventory days at 31.88 and 12.75 days, respectively [7] - The first quarter is typically a supply off-season, which may lead to a temporary supply-demand mismatch, potentially supporting prices in the short to medium term [7][8]

Summary of Conference Call Notes Industry Overview - The focus is on the coal industry, specifically regarding the supply of raw coal in the first quarter of 2026 and its implications for investment opportunities. Key Points and Arguments - Since 2021, to ensure the supply of electricity coal, there has been an increase in raw coal production in four out of the last five years during the first quarter, contrasting with a decline during the supply-side reform period from 2016 to 2020 [1][3] - In Q1 2021, an unexpected increase in production was driven by a cold winter and heightened domestic and international demand, leading major production areas to increase load and work multiple shifts to meet demand [1][3] - The implementation of overproduction checks in July 2025 and the central economic work conference's emphasis on stabilizing prices and addressing excessive competition suggest that the elasticity of raw coal supply will be limited in Q1 2026, with a modest year-on-year increase expected [1][4] - Data from CCTD indicates that capacity utilization rates in January are typically lower than in December, suggesting that Q4 is usually the peak of the year, making it difficult to maintain high levels into Q1 [1][5] Investment Recommendations - Recommended stocks include: - **Growth and Defensive Stocks**: Yanzhou Coal Mining, Lu'an Chemical, and Electric Power Investment, which are expected to have reasonable valuations and high dividends even at coal prices between 700-750 RMB/ton [1][6] - **Stable Dividend Stocks**: China Coal, Shanxi Coal, and Shenhua, which are seeing gradual improvements in dividend value [1][6] - If demand exceeds expectations, low-valuation stocks with limited shares and low profit margins such as Huayang, Jinkong, Lu'an, and Pingmei are also worth considering, especially in a low-price off-season with anticipated supply-demand improvements [2][6] Additional Important Insights - The policy environment is identified as a critical factor influencing the year-on-year changes in raw coal production, rather than seasonal patterns [3][4] - The potential for unexpected demand surges remains a consideration, as seen in previous years, but current policies are expected to constrain supply growth [3][4]

Core Viewpoint - The Daqin Railway is expected to complete a coal transportation volume of 516 million tons this year, significantly contributing to the country's electricity coal supply during the winter season [1] Group 1: Transportation Capacity and Efficiency - The Daqin Railway accounts for over 20% of national coal transportation, establishing itself as a primary channel for electricity coal supply in China [1] - Since November, the daily coal transportation volume on non-"window" days has maintained a dynamic level of 1.3 million tons, ensuring adequate supply for winter and spring electricity demand [1] - The railway has a normalized transportation capacity of 450 million tons per year, playing a crucial role in ensuring national energy security and supporting economic and social development [1]

Core Viewpoint - The article highlights the critical role of coal supply during the winter season, emphasizing the importance of coal transportation for electricity generation in China [1] Group 1: Coal Transportation - The Daqin Railway, which accounts for over 20% of national coal transportation, is projected to complete a coal transport volume of 516 million tons this year, establishing itself as a primary channel for electricity coal supply in China [1] - The efficiency of coal transportation has significantly improved, contributing to better supply management during the cold wave [1]

Report Summary 1. Report Industry Investment Rating - Not provided 2. Core Viewpoints - On November 24, the JM2601 contract closed at 1096.5, down 1.48%. The spot price of Tangshan Mongolian No. 5 coking coal was 1550, equivalent to 1330 on the futures market. The macro - situation: the NDRC issued a notice on ensuring coal supply for power generation in 2026, weakening the market's expectations. Fundamentally, the capacity utilization rate of mines has rebounded for two consecutive weeks, and the coking coal inventory of coal washing plants has increased for three consecutive weeks. The inventory is at a moderate level, and the total inventory shows a seasonal upward trend. Technically, the daily K - line is below the 20 - day and 60 - day moving averages, and the short - term trend is expected to be weakly volatile [2]. - On November 24, the J2601 contract closed at 1632.5, up 0.03%. The fourth round of price increase for coke has been implemented in the spot market. Macro: in October 2025, the crude steel output of 70 countries/regions included in the World Steel Association statistics was 143.3 million tons, a year - on - year decrease of 5.9%. Fundamentally, on the demand side, the current pig iron output is 236.28 million tons, a decrease of 0.60 million tons, and the total coke inventory is higher than the same period. In terms of profit, the average profit per ton of coke for 30 independent coking plants in the country is 19 yuan/ton. Technically, the daily K - line is below the 20 - day and 60 - day moving averages, and the short - term trend is expected to be weakly volatile [2]. 3. Summary by Relevant Catalogs Futures Market - JM main contract closing price (daily, yuan/ton): 1096.50, down 6.50; J main contract closing price (daily, yuan/ton): 1632.50, up 18.00 [2]. - JM futures contract open interest (daily, lots): 859403.00, up 17120.00; J futures contract open interest (daily, lots): 49177.00, down 782.00 [2]. - Net open interest of the top 20 JM contracts (daily, lots): - 106865.00, up 6957.00; net open interest of the top 20 J contracts (daily, lots): - 1532.00, up 150.00 [2]. - JM May - January contract spread (daily, yuan/ton): 83.00, down 2.50; J May - January contract spread (daily, yuan/ton): 149.50, down 14.00 [2]. - Coking coal warehouse receipts (daily, pieces): 0.00, unchanged; coke warehouse receipts (daily, pieces): 2070.00, unchanged [2]. Spot Market - Ganqimao Mongolian No. 5 raw coal (daily, yuan/ton): 1000.00, unchanged; Tangshan Grade I metallurgical coke (daily, yuan/ton): 1885.00, unchanged [2]. - Russian prime coking coal forward spot (CFR, US dollars/wet ton): 162.50, unchanged; Rizhao Port quasi - Grade I metallurgical coke (daily, yuan/ton): 1670.00, unchanged [2]. - Jingtang Port Australian imported prime coking coal (daily, yuan/ton): 1570.00, unchanged; Tianjin Port Grade I metallurgical coke (daily, yuan/ton): 1770.00, unchanged [2]. - Jingtang Port Shanxi - produced prime coking coal: 1780.00, unchanged; Tianjin Port quasi - Grade I metallurgical coke (daily, yuan/ton): 1670.00, unchanged [2]. - Medium - sulfur prime coking coal in Lingshi, Jinzhong, Shanxi (daily, yuan/ton): 1610.00, unchanged; J main contract basis (daily, yuan/ton): 252.50, down 18.00 [2]. - Coking coal ex - factory price in Wuhai, Inner Mongolia: 1380.00, down 20.00; JM main contract basis (daily, yuan/ton): 513.50, up 6.50 [2]. Upstream Situation - The coking coal output of 314 independent coal washing plants (daily, million tons): 27.60, up 0.20; the coking coal inventory of 314 independent coal washing plants (weekly, million tons): 302.80, up 2.00 [2]. - Capacity utilization rate of 314 independent coal washing plants (weekly, %): 0.38, unchanged; raw coal output (monthly, million tons): 40675.00, down 475.50 [2]. - Coal and lignite imports (monthly, million tons): 4174.00, down 426.00; average daily raw coal output of 523 coking coal mines: 193.40, up 1.50 [2]. - Imported coking coal inventory at 16 ports (weekly, million tons): 456.90, down 31.30; coke inventory at 18 ports (weekly, million tons): 253.40, down 6.10 [2]. - Total coking coal inventory of all - sample independent coking enterprises (weekly, million tons): 1038.19, down 30.78; total coke inventory of all - sample independent coking enterprises (weekly, million tons): 65.29, up 7.14 [2]. - Coking coal inventory of 247 steel mills nationwide (weekly, million tons): 797.08, up 6.91; coke inventory of 247 sample steel mills nationwide (weekly, million tons): 622.34, down 0.06 [2]. - Available days of coking coal for all - sample independent coking enterprises (weekly, days): 12.97, up 0.10; available days of coke for 247 sample steel mills (weekly, days): 11.05, down 0.01 [2]. Industry Situation - Coking coal imports (monthly, million tons): 1059.32, down 33.04; coke and semi - coke exports (monthly, million tons): 73.00, up 19.00 [2]. - Coking coal output (monthly, million tons): 3975.92, up 279.06; capacity utilization rate of independent coking enterprises (weekly, %): 71.71, up 0.07 [2]. - Profit per ton of coke for independent coking plants (weekly, yuan/ton): 19.00, up 53.00 [2]. - Coke output (monthly, million tons): 4189.60, down 66.00 [2]. Downstream Situation - Blast furnace operating rate of 247 steel mills nationwide (weekly, %): 82.17, down 0.62; blast furnace iron - making capacity utilization rate of 247 steel mills (weekly, %): 88.56, down 0.26 [2]. - Crude steel output (monthly, million tons): 7199.70, down 149.31 [2]. Industry News - Foreign institutions generally predict that China's economy will maintain steady growth with policy support in 2026. Morgan Stanley believes that China's economy will have moderate growth in 2026 under moderate easing policies, gradual re - balancing and restrained "anti - involution" measures. Goldman Sachs has raised its forecasts for China's export growth rate and real GDP growth rate [2]. - In October 2025, the crude steel output of 70 countries/regions included in the World Steel Association statistics was 143.3 million tons, a year - on - year decrease of 5.9% [2]. - In October, the total social electricity consumption was 857.2 billion kWh, a year - on - year increase of 10.4%, the first single - month increase of more than 10% this year [2]. - The Ministry of Housing and Urban - Rural Development held a national urban renewal work promotion meeting, emphasizing efforts in planning, funds, operation, and governance to promote urban renewal [2].

Investment Rating - The report maintains a positive outlook on the coal industry, indicating an "Overweight" rating, suggesting that the industry is expected to outperform the overall market [40]. Core Insights - The report highlights that the supply of coal is tightening, with expectations for coal prices to rise after adjustments due to seasonal demand and regulatory pressures [3][5]. - It emphasizes the importance of monitoring coal prices, which have shown stability with slight increases in certain categories, particularly thermal coal [10][14]. - The report suggests that the demand for thermal coal is expected to rebound during the winter heating season, which will likely support price increases [3][10]. Summary by Sections Recent Industry Policies and Developments - The National Development and Reform Commission has issued guidelines for long-term coal supply contracts for 2026, emphasizing the need for power companies to secure contracts based on actual coal demand [9]. - A new joint venture in Xinjiang aims to focus on green development in the coal chemical sector, indicating a shift towards sustainable practices [5][9]. Price Trends - As of November 21, thermal coal prices at major production sites have remained stable, with slight increases noted in specific regions [10][11]. - The report indicates that international coal prices have also shown stability, with some fluctuations depending on the region [11][14]. Supply and Demand Dynamics - The report notes an increase in daily coal inflow to the Bohai Rim ports, while outflow has decreased, indicating a tightening supply situation [22]. - Coal inventories at major ports have risen, suggesting a potential buildup ahead of increased winter demand [22]. Shipping Costs - Domestic shipping costs have decreased, while international shipping rates have seen slight increases, reflecting varying market conditions [30]. Company Valuations - The report provides a valuation table for key companies in the coal sector, highlighting their stock prices, market capitalizations, and earnings projections, indicating a range of investment opportunities [34].

Report Industry Investment Rating - Not provided in the content Core Viewpoints of the Report - On November 20, the JM2601 contract of coking coal closed at 1113.5, down 3.17%. The spot price of Tangshan Mongolian No. 5 coking coal was 1550, equivalent to 1330 on the futures market. The macro - situation shows that the NDRC issued a notice on ensuring the supply of thermal coal in 2026, weakening the market expectation. Fundamentally, the capacity utilization rate of mines has increased for two consecutive weeks, and the clean coal inventory of coal washing plants has increased for three consecutive weeks. The total inventory has a seasonal upward trend. Technically, the daily K - line is below the 20 - day and 60 - day moving averages, and the short - term trend is expected to be weak and volatile [2]. - On November 20, the J2601 contract of coke closed at 1633.5, down 0.70%. The fourth round of price increase for coke in the spot market has been implemented. In the macro - aspect, China's crude steel output in October was 7199.7 million tons, a year - on - year decrease of 12.1%; the cumulative crude steel output from January to October was 81787.4 million tons, a year - on - year decrease of 3.9%. Fundamentally, on the demand side, the current pig iron output is 236.88 million tons, an increase of 2.66 million tons, and the total coke inventory is relatively high compared to the same period. In terms of profit, the average profit per ton of coke for 30 independent coking plants nationwide is - 34 yuan/ton. Technically, the daily K - line is below the 20 - day and 60 - day moving averages, and the short - term trend is expected to be weak and volatile [2]. Summary by Relevant Catalogs Futures Market - The closing price of the JM main contract was 1113.50 yuan/ton, down 26.00; the closing price of the J main contract was 1633.50 yuan/ton, down 5.50. The JM futures contract position was 912017.00 hands, down 2263.00; the J futures contract position was 49628.00 hands, up 601.00. The net position of the top 20 JM contracts was - 113822.00 hands, up 14420.00; the net position of the top 20 J contracts was - 1682.00 hands, up 469.00. The JM5 - 1 month contract spread was 69.00 yuan/ton, down 2.00; the J5 - 1 month contract spread was 150.00 yuan/ton, down 6.50. The coking coal warehouse receipts were 0.00, down 300.00; the coke warehouse receipts were - 12.00 [2]. Spot Market - The price of Russian prime coking coal forward spot (CFR) was 162.50 US dollars/wet ton, unchanged; the price of Rizhao Port quasi - first - class metallurgical coke was 1670.00 yuan/ton, unchanged; the price of Jingtang Port Australian imported prime coking coal was 1580.00 yuan/ton, unchanged; the price of Jingtang Port Shanxi - produced prime coking coal was 1780.00 yuan/ton, down 80.00; the price of medium - sulfur prime coking coal in Lingshi, Jinzhong, Shanxi was 1610.00 yuan/ton, unchanged; the ex - factory price of coking coal produced in Wuhai, Inner Mongolia was 1400.00 yuan/ton, unchanged. The JM main contract basis was 496.50 yuan/ton, up 26.00; the J main contract basis was 251.50 yuan/ton, up 5.50 [2]. Upstream Situation - The clean coal output of 314 independent coal washing plants was 27.60 million tons, up 0.20; the clean coal inventory was 302.80 million tons, up 2.00. The capacity utilization rate of 314 independent coal washing plants was 0.38%, unchanged. The monthly raw coal output was 40675.00 million tons, down 475.50; the monthly coal and lignite import volume was 4174.00 million tons, down 426.00. The daily average raw coal output of 523 coking coal mines was 193.40 million tons, up 1.50. The inventory of imported coking coal at 16 ports was 488.20 million tons, down 39.18; the inventory of coke at 18 ports was 259.50 million tons, down 3.01. The total coking coal inventory of independent coking enterprises was 1068.97 million tons, down 1.05; the coke inventory was 58.15 million tons, down 0.15. The coking coal inventory of 247 steel mills nationwide was 790.17 million tons, up 2.87; the coke inventory was 622.40 million tons, down 4.24. The available days of coking coal for independent coking enterprises were 12.87 days, up 0.03; the available days of coke for 247 sample steel mills were 11.06 days, down 0.01 [2]. Industry Situation - The monthly import volume of coking coal was 1059.32 million tons, down 33.04; the monthly export volume of coke and semi - coke was 73.00 million tons, up 19.00. The monthly coking coal output was 3975.92 million tons, up 279.06. The capacity utilization rate of independent coking enterprises was 71.64%, down 0.67. The average profit per ton of coke for independent coking plants was - 34.00 yuan/ton, down 12.00. The monthly coke output was 4189.60 million tons, down 66.00 [2]. Downstream Situation - The blast furnace operating rate of 247 steel mills nationwide was 82.79%, down 0.36; the blast furnace iron - making capacity utilization rate was 88.82%, up 1.03. The monthly crude steel output was 7199.70 million tons, down 149.31 [2].