Report Information - Report Title: Coke Daily Report - Report Date: December 22, 2025 - Research Team: Black Team of the Research Center [1] Industry Investment Rating No relevant information provided. Core Viewpoints No relevant information provided. Summary by Category Coke Prices - The latest price of Shanxi quasi - first wet quenching coke is 1540.20, with no daily change, a weekly decrease of 54.61, a monthly decrease of 109.23, and a year - on - year decrease of 10.31% [2] - The latest price of Hebei quasi - first dry quenching coke is 1790.00, with no daily change, a weekly decrease of 55.00, a monthly decrease of 110.00, and a year - on - year increase of 7.83% [2] - The latest price of Shandong quasi - first dry quenching coke is 1715.00, with no daily change, a weekly decrease of 55.00, a monthly decrease of 110.00, and a year - on - year decrease of 9.74% [2] - The latest price of Jiangsu quasi - first dry quenching coke is 1755.00, with no daily change, a weekly decrease of 55.00, a monthly decrease of 110.00, and a year - on - year decrease of 9.54% [2] - The latest price of Inner Mongolia second - grade coke is 1230.00, with no daily change, a weekly decrease of 50.00, a monthly decrease of 100.00, and a year - on - year decrease of 12.14% [2] Production and Utilization Rates - The blast furnace operating rate is 84.93, with a weekly decrease of 0.99, a monthly decrease of 3.65, and a year - on - year decrease of 2.69% [2] - The average daily hot metal output is 226.55, with a weekly decrease of 2.65, a monthly decrease of 9.73, and a year - on - year decrease of 1.25% [2] - The coking capacity utilization rate is 71.92, with a weekly decrease of 0.72, a monthly increase of 0.82, and a year - on - year decrease of 2.18% [2] - The average daily coke output is 51.30, with a weekly decrease of 0.30, a monthly decrease of 1.59, and a year - on - year decrease of 3.21% [2] Inventory - The coking plant inventory is 51.90, with a weekly increase of 1.79, a monthly increase of 8.46, and a year - on - year increase of 10.19% [2] - The port inventory is 175.65, with a weekly decrease of 5.55, a monthly decrease of 17.35, and a year - on - year increase of 5.08% [2] - The steel mill inventory is 633.73, with a weekly decrease of 1.55, a monthly increase of 11.39, and a year - on - year increase of 0.34% [2] - The steel mill inventory days are 11.72, with a weekly increase of 0.06, a monthly increase of 0.67, and a year - on - year decrease of 6.24% [2] Futures Market - The latest price of the 05 contract is 1730, with a daily increase of 17.50, a weekly increase of 68.00, a monthly decrease of 56.00, and a year - on - year decrease of 5.15% [2] - The latest price of the 09 contract is 1803.5, with a daily increase of 21.50, a weekly increase of 64.00, a monthly decrease of 47.00, and a year - on - year decrease of 4.95% [2] - The latest price of the 01 contract is 1588.5, with a daily increase of 12.50, a weekly increase of 94.00, a monthly decrease of 47.50, and a year - on - year decrease of 9.20% [2] - The 05 basis is 103.55, with a daily decrease of 17.50, a weekly decrease of 68.00, a monthly decrease of 75.43, and a year - on - year decrease of 98.47 [2] - The 09 basis is 30.05, with a daily decrease of 21.50, a weekly decrease of 64.00, a monthly decrease of 84.43, and a year - on - year decrease of 98.47 [2] - The 01 basis is 245.05, with a daily decrease of 12.50, a weekly decrease of 94.00, a monthly decrease of 83.93, and a year - on - year decrease of 31.47 [2] - The 5 - 9 spread is - 141.50, with a daily decrease of 5.00, a weekly increase of 26.00, a monthly increase of 8.50, and a year - on - year decrease of 67.00 [2] - The 9 - 1 spread is - 73.50, with a daily decrease of 4.00, a weekly increase of 4.00, a monthly decrease of 9.00, and no year - on - year change [2] - The 1 - 5 spread is 215.00, with a daily increase of 9.00, a weekly decrease of 30.00, a monthly increase of 0.50, and a year - on - year increase of 67.00 [2]

宝泰隆公告，公司控股股东宝泰隆集团有限公司增持计划于2024年6月21日披露，计划12个月内以自有 或自筹资金增持2000-4000万股，价格不高于3.2元/股。截至公告日，宝泰隆集团累计增持1000.18万 股，占总股本0.52%，金额1938.44万元，完成50%，因公司2024年度主营业务亏损，资金紧张，原计划 增持股份资金已拆借给公司用于生产经营，且近期公司股价长期高于增持计划价格，无法在原定期限内 完成增持承诺。 ...

1. Report Information - Report Title: Coke Daily Report [1] - Date: December 18, 2025 [1] - Research Team: Black Team of the Research Center [1] 2. Price Information - **Coke Prices**: - Shanxi quasi - first wet quenching coke price is 1,540.20, unchanged daily, down 54.61 weekly, down 109.23 monthly, and down 10.31% year - on - year [2] - Hebei quasi - first dry quenching coke price is 1,790.00, unchanged daily, down 55.00 weekly, down 110.00 monthly, and up 7.83% year - on - year [2] - Shandong quasi - first dry quenching coke price is 1,715.00, unchanged daily, down 55.00 weekly, down 110.00 monthly, and down 9.74% year - on - year [2] - Jiangsu quasi - first dry quenching coke price is 1,755.00, unchanged daily, down 55.00 weekly, down 110.00 monthly, and down 9.54% year - on - year [2] - Inner Mongolia second - grade coke price is 1,230.00, unchanged daily, down 50.00 weekly, down 100.00 monthly, and down 12.14% year - on - year [2] - **Market Prices**: - The 05 contract price of coke on the futures market is 1,664, down 5.00 daily, down 25.00 weekly, down 146.50 monthly, and down 12.00% year - on - year [2] - The 09 contract price is 1,737, down 10.00 daily, down 27.00 weekly, down 165.00 monthly, and down 10.92% year - on - year [2] - The 01 contract price is 1,521.5, up 20.00 daily, unchanged weekly, down 144.50 monthly, and down 15.82% year - on - year [2] 3. Production and Inventory Information - **Production**: - The blast furnace operating rate is 85.92%, down 1.16 weekly, down 2.88 monthly, and down 1.61% year - on - year [2] - The average daily hot metal output is 229.20, down 3.10 weekly, down 7.68 monthly, and down 1.41% year - on - year [2] - The coking capacity utilization rate is 72.64%, up 0.62 weekly, up 0.80 monthly, and down 1.48% year - on - year [2] - The average daily coke output is 51.60, down 0.58 weekly, down 1.52 monthly, and down 3.26% year - on - year [2] - **Inventory**: - Coking plant inventory is 50.11, up 5.42 weekly, up 13.96 monthly, and up 10.04% year - on - year [2] - Port inventory is 181.20, down 0.10 weekly, down 17.60 monthly, and up 9.04% year - on - year [2] - Steel mill inventory is 635.28, up 10.03 weekly, up 12.88 monthly, and up 1.88% year - on - year [2] - Steel mill inventory days are 11.66, up 0.37 weekly, up 0.60 monthly, and down 3.24% year - on - year [2] 4. Basis and Spread Information - **Basis**: - The 05 basis is 169.55, up 5.00 daily, down 33.72 weekly, up 15.07 monthly, and up 36.68 year - on - year [2] - The 09 basis is 96.55, up 10.00 daily, down 31.72 weekly, up 33.57 monthly, and up 22.68 year - on - year [2] - The 01 basis is 312.05, down 20.00 daily, down 58.72 weekly, up 13.07 monthly, and up 95.68 year - on - year [2] - **Spread**: - The 5 - 9 spread is - 142.50, up 25.00 daily, up 25.00 weekly, up 2.00 monthly, and down 59.00 year - on - year [2] - The 9 - 1 spread is - 73.00, up 5.00 daily, up 2.00 weekly, up 18.50 monthly, and down 14.00 year - on - year [2] - The 1 - 5 spread is 215.50, down 30.00 daily, down 27.00 weekly, down 20.50 monthly, and up 73.00 year - on - year [2]

Group 1: Report Information - Report Name: Coke Daily Report [1] - Date: December 11, 2025 [1] Group 2: Price Information - Shanxi Standard First Wet Quenching Coke Price: 1594.81, no daily change, no weekly change, monthly change of 3.19, year - on - year change of -9.99% [2] - Hebei Standard First Dry Quenching Coke Price: 1845.00, no daily change, no weekly change, no monthly change, year - on - year change of 7.89% [2] - Shandong Standard First Dry Quenching Coke Price: 1770.00, no daily change, no weekly change, no monthly change, year - on - year change of -9.46% [2] - Jiangsu Standard First Dry Quenching Coke Price: 1810.00, no daily change, no weekly change, no monthly change, year - on - year change of -9.27% [2] - Inner Mongolia Second - Grade Coke Price: 1280.00, no daily change, no weekly change, no monthly change, year - on - year change of -11.72% [2] Group 3: Production and Capacity Information - Blast Furnace Operating Rate: 87.08, weekly change of -0.90, monthly change of -0.73, year - on - year change of -0.82% [2] - Daily Average Hot Metal Output: 232.30, weekly change of -2.38, monthly change of -1.92, year - on - year change of -0.13% [2] - Coking Plant Capacity Utilization Rate: 72.02, weekly change of 0.92, monthly change of -0.72, year - on - year change of -1.99% [2] - Daily Average Coke Output: 52.18, weekly change of -0.68, monthly change of -0.96, year - on - year change of -2.54% [2] Group 4: Inventory Information - Coking Plant Inventory: 44.69, weekly change of -0.52, monthly change of 8.19, year - on - year change of -0.47% [2] - Port Inventory: 181.30, weekly change of -6.10, monthly change of -20.81, year - on - year change of 7.79% [2] - Steel Mill Inventory: 625.25, weekly change of -0.27, monthly change of -1.39, year - on - year change of 3.50% [2] - Steel Mill Inventory Days: 11.29, no weekly change, monthly change of 0.22, year - on - year change of -4.24% [2] Group 5: Futures Information - Futures Contract 05 Price: 1706.5, daily change of 30.50, weekly change of -55.00, monthly change of -150.00, year - on - year change of -12.67% [2] - Futures Contract 09 Price: 1782, daily change of 29.00, weekly change of -43.00, monthly change of -157.50, year - on - year change of -11.91% [2] - Futures Contract 01 Price: 1537, daily change of 15.50, weekly change of -99.50, monthly change of -185.00, year - on - year change of -18.03% [2] - 05 Basis: 185.77, daily change of -30.50, weekly change of 55.00, monthly change of 137.30, year - on - year change of 115.90 [2] - 09 Basis: 110.27, daily change of -29.00, weekly change of 43.00, monthly change of 144.80, year - on - year change of 109.40 [2] - 01 Basis: 355.27, daily change of -15.50, weekly change of 99.50, monthly change of 172.30, year - on - year change of 206.40 [2] - 5 - 9 Spread: -169.50, daily change of -15.00, weekly change of -44.50, monthly change of -35.00, year - on - year change of -90.50 [2] - 9 - 1 Spread: -75.50, daily change of 1.50, weekly change of -12.00, monthly change of 7.50, year - on - year change of -6.50 [2] - 1 - 5 Spread: 245.00, daily change of 13.50, weekly change of 56.50, monthly change of 27.50, year - on - year change of 97.00 [2]

Core Viewpoint - Meijin Energy announced a postponement of the completion date for its hydrogen production project from December 2025 to December 2026 [2] Group 1 - The company held its 47th board meeting on December 10, 2025, to review the proposal regarding the delay of certain convertible bond fundraising investment projects [2] - The specific project affected is the "Luanzhou Meijin New Energy Co., Ltd. 14,000 Nm³/h coke oven gas hydrogen production project" [2]

焦炭日报 研究中心黑色团队 2025/12/10 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 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 1000.00 1500.00 2000.00 2500.00 3000.00 3500.00 4000.00 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 2021 2022 2023 2024 2025 230家焦化产能利用率 230家焦炭产量 全样本焦化焦炭库存 以上内容所依据的信息均来源于交 ...

Group 1 - The core point of the article is that Baotailong has not yet completed its share buyback plan and will fulfill its disclosure obligations based on the actions of its controlling shareholder [2] Group 2 - As of now, the company has responded to investor inquiries regarding the status of its buyback plan [2] - The company emphasizes its commitment to transparency in disclosing the progress of the buyback based on the controlling shareholder's actions [2]

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]