| | | | | 西新榨季制糖比,从而使得产糖量超预期。 | | --- | --- | --- | --- | --- | | | | 玉米 | | 短期政策性谷物投放预期和麦玉价差偏低对玉米市场带来利空影 响,关注投放量和投放价格,预期盘面偏震荡,建议观望。新季 | | | | | | 种植成本下移,远月C01建议关注逢高做空机会。 | | | | | | 国内累库压力下,基差和近月盘面表现预期承压。美豆供需平衡 | | | | 日期 | | 表存趋紧预期,若中美贸易政策不变,四季度豆粕存去库预期, | | | | | | 远月合约预期重心抬升;若达成协议,预期美豆上涨贴水下跌, | | | | | | 整体盘面下跌空间预期有限。 | | | | | | 纸浆外盘报价下降,发运量增加,国内需求清淡,目前估值偏 | | | | | | 代. 同时存在宏观利好。 | | | | 原不 | 看否 | 原木当前处于淡季,在外盘上涨的情况下供应下降有限,偏弱看 守。 | | | | | | 生猪存栏持续修复背景下,出栏体重持续增加。盘面存栏宽裕预 | | | | 丰信 | | 期较明显,贴水现货较多。短期现货受出 ...

焦煤日报 研究中心黑色团队 2025/7/11 | | 最新 | 日变化 | 周变化 | 月变化 年变化 | | 最新 | 日变化 | 周变化 | 月变化 | 年变化 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 柳林主焦 | 1150.00 | 0.00 | 22.00 | 50.00 | -34.29% Peak Downs | 191.00 | -0.50 | -4.00 | -2.50 | -58.00 | | 原煤口岸库提价 | 754.00 | 3.00 | 19.00 | 53.00 | -42.66% Goonyella | 194.00 | 0.00 | -3.00 | -3.50 | -55.00 | | 沙河驿蒙5# | 1080.00 | 0.00 | 10.00 | -20.00 | -40.00% 盘面05 | 947.50 | 15.00 | 13.50 | 139.50 | -45.50% | | 安泽主焦 | 1200.00 | 0.00 | 20.00 | 30.00 | -3 ...

一、 宏观数据速览 | 发布日期 | 指标日期 | 指标名称 | 单位 | 当期值 | 上期值 | 去年同期值 | | --- | --- | --- | --- | --- | --- | --- | | 20250416 | 2025/03 | GDP:不变价:当季同比 | % | 5.40 | 5.40 | 5.30 | | 20250630 | 2025/06 | 制造业 PMI | % | 49.70 | 49.50 | 49.50 | | 20250630 | 2025/06 | 非制造业 PMI:商务活 动 | % | 50.50 | 50.30 | 50.50 | | 20250613 | 2025/05 | 社会融资规模增量:当 | 亿元 | | 22870.00 11599.00 | 20623.00 | | | | 月值 | | | | | | 20250613 | 2025/05 | M0(流通中的现金):同 比 | % | 12.10 | 12.00 | 11.70 | | 20250613 | 2025/05 | M1(货币):同比 | % | 2.30 | 1.50 | -0.8 ...

Group 1 - The Shanghai Export Container Freight Index for European routes increased by 6.3% to 2258.04 points as of July 7, 2025 [1] - Global iron ore shipments totaled 29.949 million tons from June 30 to July 6, 2025, a decrease of 3.627 million tons compared to the previous period [1] - A coal mine in Linfen, Shanxi Province resumed production on July 5, with a certified capacity of 900,000 tons, after being offline for 15 days, affecting total coal output by over 40,000 tons [1] Group 2 - In June, domestic soybean crushing volume reached a historical high of 10.11 million tons, with expectations of maintaining high operating rates in July at around 9.5 million tons [1] - As of July 3, 2025, U.S. soybean export inspections amounted to 389,364 tons, corn at 1,491,062 tons, and wheat at 436,628 tons [2] - Brazil's first corn harvest rate reached 97.2% as of July 5, 2025, while the second corn harvest rate was at 27.7% [2] - The U.S. soybean good-to-excellent rating remained at 66%, while corn's good-to-excellent rating improved to 74% [2]

山西省临汾古县一座停产煤矿已于7月5日复产，该矿核定产能90万吨，累计停产15天，影响原煤总产量 4万余吨。 数据显示，5月份全国规模以上原煤产量4亿吨，同比增长4.2%；日均产量1301万吨，创历史同期新 高，环比4月份增长0.2%。 7月4日蒙古国小TT公司炼焦煤进行线上竞拍，1/3焦原煤A24.92、V32.42、S1.76、G73、Mt2.04起拍价 63.5美元/吨，挂牌数量10.24万吨全部流拍，以上价格均不含税，自年初至今所有场次全部流拍，总计 15场，总计流拍数量94.72万吨。供货地点为中国甘其毛都口岸监管区，供货时间为付款后170天内，最 后供应日期2025年12月30日。 7月7日，焦煤期货午后大幅下跌，截至发稿主力合约报832.5元/吨，跌幅达2.06%。 【消息面汇总】 机构观点 国投安信期货：炼焦煤矿产量开始回升，随着安全生产月的结束，前期减停产煤矿有复产动作。现货竞 拍成交市场有所好转，成交价格小幅上涨，终端库存有所抬升。炼焦煤总库存环比下降，产端库存大幅 下降，短期内持续去库驱动有限。整体来看，碳元素供应端仍较充裕，下游铁水淡季仍保持较高水 平，"反内卷"目前对焦煤行业影响有限 ...

Core Viewpoint - The China Coal Industry Association reports that coal production in the first five months reached 1.99 billion tons, providing strong support for energy supply during peak summer demand [1] Production Data - In May, the national coal output from large-scale enterprises was 400 million tons, representing a year-on-year increase of 4.2% [1] - The average daily production in May was 13.01 million tons, marking a historical high for the same period and a month-on-month increase of 0.2% compared to April [1] Future Projections - The association anticipates a 5% increase in domestic coal production for the entire year, driven by the continued release of advanced production capacity in provinces such as Shanxi, Shaanxi, Inner Mongolia, and Xinjiang [1] - An analysis of coal consumption trends in major industries indicates that electricity coal consumption will maintain moderate growth, while coal consumption in the steel and building materials sectors is expected to slightly decline [1] - The chemical industry is projected to see a moderate increase in coal consumption, with an overall expected growth in coal demand of approximately 1.5% for the year [1]

Core Viewpoint - The Anhui Huaibei Mining Group's Linhuan Coal Preparation Plant has implemented a "5G + Industrial Internet of Things" intelligent management method for coal quality, aiming to enhance operational efficiency and product quality through advanced technology [1][4]. Group 1: Intelligent Management Implementation - The Linhuan Coal Preparation Plant has established a smart control center that displays real-time data on clean coal output, product quality, and production consumption [1]. - The plant has received multiple honors, including being recognized as an intelligent factory and a green factory in China, and is set to be included in the Ministry of Industry and Information Technology's list of 5G factories by the end of 2024 [1]. - The intelligent management system allows for precise quality control across the entire production chain, moving towards safer, more efficient, and greener operations [1]. Group 2: Technological Innovations - The industrial IoT system utilizes a virtual private network to enhance production site 5G network capabilities, supporting around 200 5G smart terminals for various applications [2]. - The intelligent raw coal blending system incorporates weighing and speed sensors to calculate hourly coal feed amounts, while the intelligent filter press system has reduced coal slurry moisture by 4.5% [2]. - The intelligent flotation system maintains the concentration of the feed within a set range, and the intelligent heavy medium system has improved the stability rate of clean coal ash content by 12 percentage points [2]. Group 3: Efficiency and Cost Savings - The intelligent loading system features automatic vehicle recognition and precise measurement, enabling one-click loading and full-process monitoring [2]. - The plant has achieved a reduction in electricity consumption per ton of coal by 11%, saving approximately 15 million kWh annually, and has decreased steam consumption by 44%, saving 14,000 tons of steam [4]. - Overall, the plant has reduced comprehensive energy consumption by over 3,000 tons of standard coal annually, resulting in cost savings of 13 million yuan [4]. Group 4: Future Development - The "5G + Industrial Internet of Things" intelligent management method aims to maximize resource utilization and increase the production of high-value clean coal [4]. - The plant plans to leverage its status as a 5G factory to promote new technologies and models across various operational areas, driving digital transformation and high-quality development [4].

产品关联方采购价低于市场均价主要原因为部分产品通过管道运输方式，降低了关联方的销售成本和储 存运输成本，同时发挥了产业链一体化的优势，采购价格较为优惠，关联交易价格基本合理。 公开资料显示，平煤神马集团由原平煤集团和原神马集团两家中国500强企业重组而成，主要产品主焦 煤品质、轮胎骨架材料产能世界领先，尼龙66盐、工程塑料产能位居亚洲第一方阵，硅烷气、单晶硅电 池片、超高功率石墨电极产能位居全国前列。 对于2024年与控股股东关联采购金额同比大幅增长的主要原因，神马股份也表示，子公司普利材料、龙 安化工及艾迪安等在建项目建设新增设备采购增加。其中子公司普利材料、龙安化工及艾迪安2024年度 采购金额分别为10.5亿元、3.13亿元及1.85亿元，2023年采购金额分别为8.07亿元、44.25万元及1767.35 万元，本期较上期采购额累计增加7.23亿元，增长比例87.65%。 6月20日，神马股份（600810）披露对上交所2024年年报监管工作函的回复，解答公司期内关联采购金 额同比大幅增长的原因及合理性等问题。 年报显示，2024年神马股份与控股股东及其关联方关联交易金额达120.28亿元，其中，关联 ...

1-5月份，全省规模以上工业原煤产量4375.75万吨，同比增长3.1%。 原油加工降幅扩大。5月份，全省规模以上工业加工原油89.54万吨，同比下降8.7%，降幅比4月份扩大 4.5个百分点。 大象新闻记者 张华婧 5月份，全省规模以上工业原煤、原油加工同比下降，电力生产同比增长。与4月份相比，原煤生产由增 转降，原油加工降幅扩大，电力生产增速加快。 一、原煤、原油加工生产情况 原煤生产由增转降。5月份，全省规模以上工业原煤产量876.47万吨，由4月份的增长2.3%转为下降 5.1%，日均产量28.27万吨。 分品种看，5月份，火力发电量下降0.2%，比4月份收窄7.0个百分点；水力发电量增长11.4%，比4月份 提高11.1个百分点；风力发电量增长42.9%，比4月份提高6.1个百分点；太阳能发电量增长12.7%，比4 月份放缓4.3个百分点。 注： 1、统计范围 报告中的产量数据统计口径均为规模以上工业，其统计范围为年主营业务收入2000万元及以上的工业企 业。 由于规模以上工业企业范围每年发生变化，为保证本年数据与上年可比，计算产品产量等各项指标同比 增长速度所采用的同期数与本期的企业统计范围相一致 ...

焦煤焦炭产业日报 2025/6/17 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任何保证，据此投资，责任自负。本 报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本报告版权仅为我公司所有，未经书面许可，任何机构和个人不得 以任何形式翻版、复制和发布。如引用、刊发，需注明出处为瑞 达 研 究瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改 。 | 项目类别 | 数据指标 | 最新 | 环比 | 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | --- | | | JM主力合约收盘价（日，元/吨） | 789.50 | -6.00↓ | J主力合约收盘价（日，元/吨） | 1365.50 | -5.50↓ | | 期货市场 | JM期货合约持仓量（日，手） | 706696.00 | -11022.00↓ | J期货合约持仓量（日，手） | 55241.00 | -661.00↓ | | | 焦煤前20名合约净持仓（日，手） | ...