7月中旬以来焦炭连续七轮涨价，尤其是进入8月份，焦炭基本面趋紧，为价格上涨提供了进一步的支 撑。不过，后期来看，虽然钢焦企业焦炭库存均维持偏低水平，但高温多雨天气影响下，终端钢材市场 需求表现不佳。预计随着钢材持续累库，钢厂利润收缩，钢焦博弈加剧，焦炭涨价节奏趋缓。 7月中旬以来，国内焦炭现货价格迄今经历了连续七轮涨价。其背后也受到焦炭基本面的支撑。具体来 看，随着焦炭价格上涨，市场投机贸易需求增多，下游买涨不买跌心态下，整体采购积极，这使得焦化 厂焦炭库存持续下降，8月份焦化厂库存基本清空。 8月中旬后，虽然焦化利润修复，山西、内蒙古地区焦化厂开工有提升，但山东、河北及河南地区焦化 陆续执行限产，国内焦炭供应整体未有持续增加，焦化厂库存维持低位水平。 卓创资讯数据显示，截至8月21日，国内主流独立焦化厂月平均开工负荷74.65%，环比上周开工略降 0.13个百分点，较上月开工增加0.61个百分点。同期国内主流焦化厂焦炭库存降至27.6万吨，较上月库 存减少2.8万吨，降幅9.21%，库存天数0.83天，焦化厂库存为年内次低水平。 不过，从终端市场看，7月中旬以来受高温多雨等季节性因素影响，国内钢材需求明显减 ...

焦炭日报 研究中心黑色团队 2025/8/27 | | 最新 | 日变化 | 周变化 | 月变化 同比 | | 最新 | 日变化 | 周变化 | 月变化 同比 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 山西准一湿熄 | 1535.94 | 0.00 | 54.61 | 218.45 | -8.91% 高炉开工率 | 90.25 | | 0.03 | -0.56 | 5.04% | | 河北准一湿熄 | 1780.00 | 0.00 | 55.00 | 240.00 | -7.05% 铁水日均产量 | 240.75 | | 0.09 | -1.48 | 7.26% | | 山东准一干熄 | 1715.00 | 0.00 | 55.00 | 220.00 | -12.28% 盘面05 | 1806.5 | -13.00 | 38.50 | 65.50 | -7.88% | | 江苏准一干熄 | 1755.00 | 0.00 | 55.00 | 220.00 | -12.03% 盘面09 | 1636 | -1 ...

1000.00 1500.00 2000.00 2500.00 3000.00 3500.00 1月 2月 3月 4月 5月 6月 7月 8月 9月 10月 11月 12月 1月 临汾出厂价 2021 2022 2023 2024 2025 900.00 1400.00 1900.00 2400.00 2900.00 3400.00 3900.00 4400.00 1月 2月 3月 4月 5月 6月 7月 8月 9月 10月 11月 12月 1月 吕梁出厂价 1000.00 1500.00 2000.00 2500.00 3000.00 3500.00 4000.00 4500.00 1月 2月 3月 4月 5月 6月 7月 8月 9月 10月 11月 12月 1月 日照港准一平仓 2021 2022 2023 2024 2025 1000.00 1500.00 2000.00 2500.00 3000.00 3500.00 1月 2月 3月 4月 5月 6月 7月 8月 9月 10月 11月 12月 1月 长治出厂价 2021 2022 2023 2024 2025 4000.00 4500.00 青岛港准 ...

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焦炭日报 研究中心黑色团队 2025/8/19 | | 最新 | 日变化 | 周变化 | 月变化 同比 | | 最新 | 日变化 | 周变化 | 月变化 同比 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 山西准一湿熄 | 1481.33 | 0.00 | 54.61 | 273.06 | -17.31% 高炉开工率 | 90.22 | | 0.13 | -0.67 | 3.68% | | 河北准一湿熄 | 1725.00 | 0.00 | 75.00 | 295.00 | -14.81% 铁水日均产量 | 240.66 | | 0.34 | -1.78 | 5.20% | | 山东准一干熄 | 1660.00 | 0.00 | 55.00 | 275.00 | -19.61% 盘面05 | 1820.5 | 3.00 | -42.00 | 219.50 | -6.04% | | 江苏准一干熄 | 1700.00 | 0.00 | 55.00 | 275.00 | -19.24% 盘面09 | 1645.5 ...

Group 1 - Since late July, coking coal futures prices have maintained a high-level fluctuation pattern due to improved long-term fundamentals in the coal market and a 90-day extension of tariff exemptions between China and the U.S., which alleviated export pressures [1] - The sixth round of price increases for coking coal was implemented on August 14, with prices at 1520 RMB/ton for wet quenching coke and 1460 RMB/ton for ex-factory prices, leading to improved profitability for most coking enterprises [2] - As of August 15, the total inventory of coking coal decreased to 8.8742 million tons, reflecting a continuous trend of inventory reduction across various segments of the industry [3] Group 2 - Current policies, particularly the "anti-involution" policy, are expected to support coking coal prices by suppressing disorderly competition and enhancing supply quality, contributing to a generally optimistic market outlook [4] - Despite a slight increase in supply, demand remains stable, with the average daily production of coking coal and steel maintaining resilience, indicating a balanced supply-demand dynamic [3][4] - The overall macroeconomic environment is optimistic, which, combined with stable supply and demand fundamentals, is expected to drive coking coal futures to continue high-level operations [4]

焦炭日报 研究中心黑色团队 2025/8/15 免责声明 建议及入市依据，您应当自主做出期货交易决策，独立承担期货交易后果，凡据此入市者，我司不承担任何责任。我司在为您提供服务时已最大程度避免与您产生利益冲突。未经我司 授权，不得随意转载、复制、传播本网站中所有研究分析报告、行情分析视频等全部或部分材料、内容。对可能因互联网软硬件设备故障或失灵、或因不可抗力造成的全部或部分信息 中断、延迟、遗漏、误导或造成资料传输或储存上的错误、或遭第三人侵入系统篡改或伪造变造资料等，我司均不承担任何责任。 1000.00 1500.00 2000.00 2500.00 3000.00 3500.00 4000.00 4500.00 1月 2月 3月 4月 5月 6月 7月 8月 9月 10月 11月 12月 1月 日照港准一平仓 2021 2022 2023 2024 2025 1000.00 1500.00 2000.00 2500.00 3000.00 3500.00 1月 2月 3月 4月 5月 6月 7月 8月 9月 10月 11月 12月 1月 长治出厂价 2021 2022 2023 2024 2025 400 ...

Group 1: Report Information - Report Title: Coke Daily Report [1] - Report Date: August 14, 2025 [1] - Research Team: Black Team of the Research Center [1] Group 2: Industry Investment Rating - No industry investment rating is provided in the report. Group 3: Core View - No core view is provided in the report. Group 4: Key Data Summary Coke Prices - The latest prices of different types of coke in various regions are as follows: Shanxi quasi - first wet quenching is 1426.72, Hebei quasi - first wet quenching is 1650.00, Shandong quasi - first dry quenching is 1605.00, Jiangsu quasi - first dry quenching is 1645.00, and Inner Mongolia secondary is 1130.00. There is no daily change in these prices [2]. Production and Utilization Rates - The blast furnace开工率 is 90.09%, with a weekly decrease of 0.15 and a monthly increase of 0.19. The iron water daily average output is 240.32, with a weekly decrease of 0.39 and a monthly increase of 0.51. The coking capacity utilization rate is 73.48%, with a weekly decrease of 0.13 and a monthly increase of 0.28. The coke daily average output is 51.78, with a weekly decrease of 0.39 and a monthly decrease of 1.81 [2]. Inventory - Coking plant inventory is 44.63, with a weekly decrease of 1.89 and a monthly decrease of 14.95. Port inventory is 218.15, with a weekly increase of 3.05 and a monthly increase of 18.07. Steel mill inventory is 619.28, with a weekly decrease of 7.41 and a monthly decrease of 18.52. Steel mill inventory days are 10.91, with a weekly decrease of 0.26 and a monthly decrease of 0.73 [2]. Futures Market - The latest prices of different futures contracts are: Disk 05 is 1865.5, Disk 09 is 1708, and Disk 01 is 1784. The 05 - 09 spread is - 81.50, the 09 - 01 spread is 157.50, and the 01 - 05 spread is - 76.00 [2].

Group 1: Report Information - Report title: Coke Daily Report [1] - Report date: August 12, 2025 [1] - Research team: Black Team of the Research Center [1] Group 2: Industry Investment Rating - Not provided Group 3: Core Viewpoints - Not provided Group 4: Price Information - Prices of different types of coke (such as Shanxi quasi - first wet quenching, Hebei quasi - first wet quenching) have week - on - week and month - on - month increases, but year - on - year decreases. For example, Shanxi quasi - first wet quenching is currently 1426.72, with a week - on - week increase of 54.61 and a year - on - year decrease of 22.64% [2] - Futures prices of different contracts (such as 05, 09, 01) also show certain changes, with both week - on - week and month - on - month increases but year - on - year decreases. For example, the 05 contract price is 1818.5, with a day - on - day increase of 6.50 and a year - on - year decrease of 13.98% [2] Group 5: Production and Inventory Information - The blast furnace operating rate is 90.09, with a week - on - week decrease of 0.15 and a year - on - year increase of 1.37% [2] - The average daily hot metal output is 240.32, with a week - on - week decrease of 0.39 and a year - on - year increase of 3.72% [2] - Coke production shows a week - on - week and month - on - month decrease. The daily coke output is 51.78, with a week - on - week decrease of 0.39 and a month - on - month decrease of 1.81, and a year - on - year decrease of 3.47% [2] - Coking plant inventory is 44.63, with a week - on - week decrease of 1.89 and a month - on - month decrease of 14.95, but a year - on - year increase of 1.39% [2] - Port inventory is 218.15, with a week - on - week increase of 3.05 and a month - on - month increase of 18.07, and a year - on - year increase of 15.29% [2] - Steel mill inventory is 619.28, with a week - on - week decrease of 7.41 and a month - on - month decrease of 18.52, but a year - on - year increase of 15.49% [2] - Steel mill inventory days are 10.91, with a week - on - week decrease of 0.26 and a month - on - month decrease of 0.73, but a year - on - year increase of 2.92% [2] - Coking capacity utilization rate is 73.48, with a week - on - week decrease of 0.13 and a month - on - month increase of 0.28, and a year - on - year increase of 0.34% [2] Group 6: Basis and Spread Information - The 05 basis is - 101.60, with a day - on - day decrease of 6.50 and a week - on - week decrease of 59.00 [2] - The 09 basis is 56.40, with a day - on - day decrease of 12.00 and a week - on - week decrease of 47.50 [2] - The 01 basis is - 17.10, with a day - on - day decrease of 4.50 and a week - on - week decrease of 53.50 [2] - The 5 - 9 spread is - 84.50, with a day - on - day decrease of 2.00 and a week - on - week decrease of 5.50 [2] - The 9 - 1 spread is 158.00, with a day - on - day decrease of 5.50 and a week - on - week increase of 11.50 [2] - The 1 - 5 spread is - 73.50, with a day - on - day increase of 7.50 and a week - on - week decrease of 6.00 [2]

1. Report Date - The report is dated August 11, 2025 [1] 2. Price and Inventory Data 2.1 Coke Prices - The prices of different types of coke (such as Shanxi quasi - first wet - quenched, Hebei quasi - first wet - quenched, etc.) have shown various changes over different time periods. For example, Shanxi quasi - first wet - quenched coke is priced at 1426.72, with a weekly change of 54.61 and a monthly change of 273.06, and a year - on - year decrease of 22.64% [2] 2.2 Inventory Data - Coking plant inventory is 44.63, with a weekly decrease of 1.89 and a monthly decrease of 14.95, and a year - on - year increase of 1.39% - Port inventory is 218.15, with a weekly increase of 3.05 and a monthly increase of 18.07, and a year - on - year increase of 15.29% - Steel mill inventory is 619.28, with a weekly decrease of 7.41 and a monthly decrease of 18.52, and a year - on - year increase of 15.49% [2] 3. Production - related Data 3.1 Production Capacity Utilization - The coking production capacity utilization rate is 73.48, with a weekly decrease of 0.13 and a monthly increase of 0.28, and a year - on - year increase of 0.34% - The blast furnace start - up rate is 90.09, with a weekly decrease of 0.15 and a monthly increase of 0.19, and a year - on - year increase of 1.37% [2] 3.2 Output - The daily average coke output is 51.78, with a weekly decrease of 0.39 and a monthly decrease of 1.81, and a year - on - year decrease of 3.47% - The daily average iron water output is 240.32, with a weekly decrease of 0.39 and a monthly increase of 0.51, and a year - on - year increase of 3.72% [2] 4. Futures - related Data 4.1 Futures Prices - The price of futures contract 05 is 1812, with a daily decrease of 7.00, a weekly increase of 104.50, a monthly increase of 272.00, and a year - on - year decrease of 15.33% - The price of futures contract 09 is 1648.5, with a daily decrease of 9.50, a weekly increase of 64.00, a monthly increase of 170.50, and a year - on - year decrease of 17.68% - The price of futures contract 01 is 1729.5, with a daily decrease of 6.00, a weekly increase of 88.50, a monthly increase of 222.00, and a year - on - year decrease of 17.68% [2] 4.2 Basis and Spread - The 05 basis is - 95.10, with a daily increase of 7.00, a weekly decrease of 104.50, a monthly increase of 26.99, and a year - on - year decrease of 104.85 - The 09 basis is 68.40, with a daily increase of 9.50, a weekly decrease of 64.00, a monthly increase of 128.49, and a year - on - year decrease of 78.85 - The 01 basis is - 12.60, with a daily increase of 6.00, a weekly decrease of 88.50, a monthly increase of 76.99, and a year - on - year decrease of 61.35 - The 5 - 9 spread is - 82.50, with a daily increase of 1.00, a weekly decrease of 16.00, a monthly decrease of 50.00, and a year - on - year decrease of 43.50 - The 9 - 1 spread is 163.50, with a daily increase of 2.50, a weekly increase of 40.50, a monthly increase of 101.50, and a year - on - year increase of 26.00 - The 1 - 5 spread is - 81.00, with a daily decrease of 3.50, a weekly decrease of 24.50, a monthly decrease of 51.50, and a year - on - year increase of 17.50 [2] 5. Historical Price Charts - The report includes historical price charts of coke in different regions (such as Linfen, Lvliang, Rizhao Port, etc.) from 2021 to 2025, showing the price trends of coke over the years [3][4][5]