焦炭日报 研究中心黑色团队 2025/12/4 | | 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 | 1594.81 | 0.00 | -54.61 | 3.19 | -9.99% 高炉开工率 | 87.98 | | -0.60 | -0.63 | -0.62% | | 河北准一干熄 | 1845.00 | 0.00 | -55.00 | 0.00 | 7.89% 铁水日均产量 | 234.68 | | -1.60 | -1.68 | 0.35% | | 山东准一干熄 | 1770.00 | 0.00 | -55.00 | 0.00 | -9.46% 盘面05 | 1749 | -12.00 | -7.50 | -136.00 | -10.79% | | 江苏准一干熄 | 1810.00 | 0.00 | -55.00 | 0.00 | -9.27% 盘面09 | 1813 | -20.5 ...

焦炭日报 研究中心黑色团队 2025/12/3 | | 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 | 1594.81 | 0.00 | -54.61 | 57.81 | -9.99% 高炉开工率 | 87.98 | | -0.60 | -0.63 | -0.62% | | 河北准一干熄 | 1845.00 | 0.00 | -55.00 | 55.00 | 7.89% 铁水日均产量 | 234.68 | | -1.60 | -1.68 | 0.35% | | 山东准一干熄 | 1770.00 | 0.00 | -55.00 | 55.00 | -9.46% 盘面05 | 1761 | 18.00 | 2.50 | -149.00 | -10.22% | | 江苏准一干熄 | 1810.00 | 0.00 | -55.00 | 55.00 | -9.27% 盘面09 | 1833.5 | 3 ...

Report Information - Report Title: Coke Daily Report - Report Date: December 2, 2025 - Research Team: Black Team of the Research Center [1] Report Highlights 1. Price Changes - **Coke Prices**: The price of Shanxi quasi - first wet - quenched coke is 1594.81, with a daily and weekly change of - 54.61, a monthly change of 57.81, and a year - on - year change of - 9.99%. The price of Hebei quasi - first dry - quenched coke is 1900.00, with no daily or weekly change, a monthly change of 110.00, and a year - on - year change of 11.11%. Similar price data are provided for Shandong, Jiangsu, and Inner Mongolia coke [2]. 2. Production and Utilization Rates - **Blast Furnace and Coking**: The blast furnace开工率 is 87.98, with a weekly change of - 0.60, a monthly change of - 0.63, and a year - on - year change of - 0.62%. The coking capacity utilization rate is 71.10, with no weekly change, a monthly change of - 2.06, and a year - on - year change of - 2.83%. The daily iron water output is 234.68, with a weekly change of - 1.60, a monthly change of - 1.68, and a year - on - year change of 0.35%. The daily coke output is 52.86, with a weekly change of - 0.03, a monthly change of - 0.44, and a year - on - year change of - 0.23% [2]. 3. Inventory Data - **Coke Inventories**: Coking plant inventory is 45.21, with a weekly change of 1.77, a monthly change of 7.69, and a year - on - year change of 2.35%. Port inventory is 187.40, with a weekly change of - 5.60, a monthly change of - 23.70, and a year - on - year change of 8.81%. Steel mill inventory is 625.52, with a weekly change of 3.18, a monthly change of - 3.53, and a year - on - year change of 3.59%. Steel mill inventory days are 11.29, with a weekly change of 0.24, a monthly change of - 0.28, and a year - on - year change of - 3.91% [2]. 4. Futures Market Data - **Futures and Basis**: The prices of futures contracts (05, 09, 01) and their daily, weekly, monthly, and year - on - year changes are provided. The basis data for these contracts (05, 09, 01) and the spread data (5 - 9, 9 - 1, 1 - 5) and their corresponding changes are also presented [2]. 5. Historical Price Charts - **Price Trends**: Historical price charts for coke in different regions (Linfen, Lvliang, Rizhao Port, Changzhi, Qingdao Port, Tianjin Port) from 2021 - 2025 are provided, as well as charts for related production, inventory, and profit indicators during the same period [3][4][5][6][7][8]

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 4500.00 青岛港准一平仓 免责声明 以上内容所依据的信息均来源于交易所、媒体及资讯公司等发布的公开资料或通过合法授权渠道向发布人取得的资讯，我们力求分析及建议内容的客观、公正，研究方法专业审慎，分 析结论合理，但我司对信息来源的准确性和完整性不作任何保证，也不保证所依据的信息和建议不会发生任何变化。我们提供的全部分析及建议内容仅供参考，不构成对您的任何投资 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 ...

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 青岛港准一平仓 焦炭日报 研究中心黑色团队 2025/11/28 | | 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 | 1649.42 | 0.00 | 0.00 | 112.42 | -6.91% 高炉开工率 | 88.58 | | -0.22 | -1.36 | 0.00% | | 河北准一干熄 | 1900.00 | 0.00 | 0.00 | 110.00 | 11.11% 铁水日均产量 | 234.68 | | -1.60 | -1.68 | 0.35% | | 山东准一干熄 | 1825.00 | 0.00 | 0.00 | 110.00 ...

焦炭日报 研究中心黑色团队 2025/11/20 | | 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 | 1649.42 | 0.00 | 57.81 | 167.03 | -10.07% 高炉开工率 | 88.80 | | 0.99 | -1.53 | 1.06% | | 河北准一干熄 | 1900.00 | 0.00 | 55.00 | 165.00 | 7.95% 铁水日均产量 | 236.88 | | 2.66 | -4.07 | 0.40% | | 山东准一干熄 | 1825.00 | 0.00 | 55.00 | 165.00 | -9.20% 盘面05 | 1804 | -6.50 | -18.50 | -33.50 | -10.05% | | 江苏准一干熄 | 1865.00 | 0.00 | 55.00 | 165.00 | -9.02% 盘面09 | 1887 | -15 ...

免责声明 焦炭日报 研究中心黑色团队 2025/11/17 | | 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 | 1646.23 | 54.61 | 54.61 | 163.84 | -10.22% 高炉开工率 | 88.80 | | 0.99 | -1.53 | 1.06% | | 河北准一干熄 | 1845.00 | 0.00 | 0.00 | 110.00 | 4.83% 铁水日均产量 | 236.88 | | 2.66 | -4.07 | 0.40% | | 山东准一干熄 | 1770.00 | 0.00 | 0.00 | 110.00 | -11.94% 盘面05 | 1816.5 | -6.00 | -58.50 | 19.50 | -8.90% | | 江苏准一干熄 | 1810.00 | 0.00 | 0.00 | 110.00 | -11.71% 盘面09 | 1901 ...

Group 1: Report Information - The report is a Coke Daily Report by the Black Team of the Research Center, dated November 13, 2025 [1] Group 2: Price and Production Data - **Coke Prices**: The latest prices of different types of coke are as follows: Shanxi quasi - first wet quenching is 1591.62, Hebei quasi - first dry quenching is 1845.00, Shandong quasi - first dry quenching is 1770.00, Jiangsu quasi - first dry quenching is 1810.00, and Inner Mongolia second - grade is 1280.00. Compared with the previous week, prices have increased by 50 - 55, and compared with the previous month, by 100 - 110. The year - on - year changes range from - 17.42% to 1.93% [2] - **Production and Utilization**: The blast furnace开工率 is 87.81, with a weekly decrease of 0.80 and a monthly decrease of 2.74, and a year - on - year decrease of 0.67%. The daily average iron water output is 234.22, down 2.14 from the previous week and 7.32 from the previous month, but up 0.07% year - on - year. The coking production capacity utilization rate is 72.74, with a weekly decrease of 0.42 and a monthly decrease of 2.26, and a year - on - year decrease of 0.49%. The daily average coke output is 53.14, up 0.83 from the previous month and 5.19% year - on - year [2] Group 3: Inventory Data - **Inventory Quantities**: Coking plant inventory is 36.50, down 1.02 from the previous week and 6.04 from the previous month, and 17.16% lower year - on - year. Port inventory is 202.11, down 8.99 from the previous week but up 7.02 from the previous month, and 16.73% higher year - on - year. Steel mill inventory is 626.64, down 2.41 from the previous week and 24.18 from the previous month, but up 7.76% year - on - year [2] - **Inventory Days**: The steel mill inventory days are 11.07, down 0.50 from the previous week and 0.35 from the previous month, and 0.81% lower year - on - year [2] Group 4: Futures Data - **Futures Prices**: The prices of coke futures contracts 01, 05, and 09 are 1691, 1834.5, and 1919.5 respectively. Compared with the previous day, they have decreased by 31.00, 22.00, and 20.00 respectively. Compared with the previous week, they have decreased by 76.50, 71.00, and 68.50 respectively. Compared with the previous month, they have increased by 54.50, 53.50, and 53.00 respectively. The year - on - year changes range from - 12.27% to - 6.39% [2] - **Basis and Spreads**: The 01, 05, and 09 basis are 213.97, 70.47, and - 14.53 respectively. The 5 - 9 spread is - 143.50, the 9 - 1 spread is - 85.00, and the 1 - 5 spread is 228.50 [2]

Core Viewpoints - The inflation rebound in October is primarily driven by factors other than the anti-involution effect, with significant contributions from commodity price increases [2][60] - The Consumer Price Index (CPI) rose to 0.2% year-on-year, up from -0.3% in the previous month, while the Producer Price Index (PPI) decreased by 2.1% year-on-year, showing a slight improvement from -2.3% [9][59] Group 1: Factors Influencing Inflation - Factor 1: The anti-involution effect led to an increase in coal prices, but its impact on downstream PPI was limited. In contrast, copper prices, which were less affected by anti-involution, saw a significant increase, contributing 0.2% to the PPI [2][10][60] - Factor 2: The CPI's rise above zero was attributed to a low base and reduced supply in certain food categories, with pork prices remaining low despite the anti-involution effect. The food CPI increased by 1.5 percentage points to -2.9% year-on-year [2][17][61] - Factor 3: Core CPI continued to rise, supported by improved travel demand and rising gold prices. The core CPI increased to 1.2% year-on-year, with significant price increases in accommodation and travel services due to the overlapping National Day and Mid-Autumn Festival [3][24][61] Group 2: Future Outlook - The price increases in bulk commodities are expected to continue influencing inflation, but the impact of anti-involution on downstream prices may take time to materialize. The PPI is projected to remain around -2.2% year-on-year in the fourth quarter [4][37][62] - Although the low base, steady improvement in service consumption demand, and high gold prices may support core CPI, the limited rebound in CPI for the year is anticipated due to the tapering of national subsidies and slow recovery in downstream PPI [4][37][62] Group 3: Regular Tracking - The CPI showed an overall increase, with contributions from both food and non-food items. The food CPI rose by 1.5 percentage points to -2.9% year-on-year, with significant increases in fresh vegetables and fruits [5][43][63] - Non-food items such as household appliances and communication tools saw a decline in CPI, with household appliances dropping to 5.0% and communication tools to 1.2% [5][48][63] - The overall service CPI increased, with core service CPI performing better than seasonal trends, rising to 0.8% year-on-year [7][52][63]

Group 1 - In October, the Consumer Price Index (CPI) increased by 0.2% year-on-year, marking a shift from decline to growth, and a month-on-month increase of 0.2%, with the growth rate expanding by 0.1 percentage points compared to the previous month [1] - The core CPI, excluding food and energy prices, rose by 1.2% year-on-year, with the growth rate expanding for the sixth consecutive month [1] Group 2 - In October, the Producer Price Index (PPI) increased by 0.1% month-on-month, marking the first increase of the year, while the year-on-year decline narrowed by 0.2 percentage points for the third consecutive month [1] - The continuous improvement in supply and demand relationships in certain domestic industries has led to price increases in key sectors such as coal processing and photovoltaic equipment manufacturing, with prices rising for over two consecutive months [1]