Group 1: Industry Overview - The coal market is experiencing a potential turnaround due to Indonesia's significant reduction in production quotas, which have dropped by 40% to 70% compared to the same period in 2025, tightening global coal supply [1] - The expectation of price recovery is rising, with four distinct companies in the coal sector: China Shenhua, Shaanxi Coal, Pingmei Shenma, and Huabei Mining, each with unique operational strengths [5][19] Group 2: Company Financial Performance - China Shenhua has a remarkable net profit margin of 22.01%, indicating strong profitability, but its total asset turnover is low at 0.325 times, reflecting a conservative operational style [9][15] - Shaanxi Coal boasts the highest total asset turnover at 0.506 times and a net profit margin of 16.88%, showcasing efficient asset utilization and strong profitability [10][15] - Pingmei Shenma, despite having the highest financial leverage at 2.715 times, struggles with a low net profit margin of 1.99% and the lowest total asset turnover at 0.185 times, indicating operational inefficiencies [6][16] - Huabei Mining has a moderate return on equity (ROE) of approximately 1.76%, with a net profit margin of 2.50% and total asset turnover of 0.361 times, reflecting a balanced but unremarkable performance [12][16] Group 3: Market Dynamics and Implications - The reduction in Indonesian coal production is expected to impact international coal prices, potentially increasing costs for countries reliant on imported coal, including China [19] - China Shenhua and Shaanxi Coal, primarily focused on thermal coal, will be more directly affected by fluctuations in the international thermal coal market, while Pingmei Shenma's coking coal prices are closely tied to the steel industry's demand [19] - Internal restructuring efforts, such as Pingmei Shenma's strategic reorganization with Henan Energy Group, may enhance resource allocation and market synergy, presenting long-term growth potential [20]

Report Information - Report Title: Coking Coal Daily Report - Research Team: Black Team of the Research Center - Date: January 21, 2026 [1] Price and Inventory Data Coal Prices - **Domestic Coal**: The latest price of Liulin Main Coking Coal is 1426.00, with no daily change, a weekly decrease of 29.00, a monthly decrease of 74.00, and an annual increase of 5.63%. The price of Anze Main Coking Coal is 1620.00, with no daily change, a weekly increase of 120.00, a monthly increase of 20.00, and an annual increase of 15.71%. The price of Shaheyi Meng 5 is 1400.00, with a daily and weekly increase of 60.00, a monthly increase of 40.00, and an annual increase of 2.94%. The price of Raw Coal Port Delivery Price is 1020.00, with a daily decrease of 25.00, a weekly decrease of 48.00, a monthly increase of 50.00, and an annual increase of 11.48% [2]. - **Imported Coal**: The price of Peak Downs is 244.00, with a daily increase of 2.00, a weekly increase of 8.00, a monthly increase of 16.00, and an annual increase of 47.00. The price of Goonyella is 245.00, with a daily increase of 2.00, a weekly increase of 8.00, a monthly increase of 16.00, and an annual increase of 43.00 [2]. Futures Prices - The latest price of Futures Contract 05 is 1150.00, with a daily decrease of 27.00, a weekly decrease of 49.50, a monthly increase of 40.00, and an annual decrease of 1.63%. The price of Futures Contract 09 is 1227.50, with a daily decrease of 31.00, a weekly decrease of 50.00, a monthly increase of 42.00, and an annual decrease of 0.37%. The price of Futures Contract 01 is 1391.50, with a daily decrease of 33.50, a weekly increase of 313.00, a monthly increase of 394.00, and an annual increase of 10.22% [2]. Inventory Data - **Total Inventory**: The total coking coal inventory is 4087.59, with a weekly increase of 35.02, a monthly increase of 153.49, and an annual decrease of 16.71%. - **Coal Mine Inventory**: The coal mine inventory is 272.37, with a weekly decrease of 22.64, a monthly decrease of 0.40, and an annual decrease of 33.78%. - **Port Inventory**: The port inventory is 299.80, with a weekly decrease of 1.50, a monthly decrease of 7.70, and an annual decrease of 36.89%. - **Steel Mill Inventory**: The steel mill coking coal inventory is 797.73, with a weekly decrease of 4.54, a monthly increase of 3.08, and an annual decrease of 2.04%. - **Coking Plant Inventory**: The coking plant coking coal inventory is 1071.68, with a weekly increase of 19.18, a monthly increase of 34.38, and an annual decrease of 0.17% [2]. Other Data - **Coking Capacity Utilization**: The coking capacity utilization rate is 72.55, with a weekly decrease of 0.14, a monthly increase of 0.50, and an annual decrease of 1.17%. - **Coking Coke Inventory**: The coking coke inventory is 85.38, with a weekly decrease of 0.29, a monthly decrease of 0.35, and an annual decrease of 0.64%. - **Futures Basis and Spreads**: The 05 basis is -15.75, with a daily increase of 27.00, a weekly increase of 32.26, a monthly increase of 68.05, and an annual increase of 58.08. The 09 basis is -93.25, with a daily increase of 31.00, a weekly increase of 32.76, a monthly increase of 66.05, and an annual decrease of 0.32. The 01 basis is -257.25, with a daily increase of 33.50, a weekly decrease of 330.24, a monthly decrease of 285.95, and an annual increase of 0.54. The 5 - 9 spread is -77.50, with a daily increase of 4.00, a weekly increase of 0.50, a monthly decrease of 2.00, and an annual increase of 0.23. The 9 - 1 spread is -164.00, with a daily increase of 2.50, a weekly decrease of 363.00, a monthly decrease of 352.00, and an annual increase of 4.38. The 1 - 5 spread is 241.50, with a daily decrease of 6.50, a weekly increase of 362.50, a monthly increase of 354.00, and an annual increase of 1.58% [2].

Report Information - Report Title: Coking Coal Daily Report - Date: November 17, 2025 - Research Team: Black Team of the Research Center [1] Price Information - **Domestic Coking Coal Prices**: The price of Liulin Main Coking Coal is 1,645.00, unchanged from the previous day and week, with a monthly increase of 70.00 and an annual increase of 3.46%. The price of Anze Main Coking Coal is 1,700.00, unchanged from the previous day, with a weekly increase of 40.00, a monthly increase of 150.00, and an annual increase of 4.29%. The price of Shaheyi Meng 5 is 1,550.00, unchanged from the previous day and week, with a monthly increase of 130.00 and an annual decrease of 3.13%. The price of Raw Coal Port Delivery Price is 1,080.00, with a daily decrease of 20.00, a weekly decrease of 81.00, a monthly increase of 29.00, and an annual decrease of 2.70% [2]. - **International Coking Coal Prices**: The price of Peak Downs is 210.50, with a daily decrease of 1.00, a weekly decrease of 1.50, a monthly increase of 5.50, and an annual decrease of 8.00. The price of Goonyella is 209.50, with a daily decrease of 1.00, a weekly decrease of 2.50, a monthly increase of 5.50, and an annual decrease of 9.00 [2]. - **Futures Prices**: The price of Futures Contract 05 is 1,252.50, with a daily decrease of 11.00, a weekly decrease of 46.00, a monthly decrease of 14.00, and an annual decrease of 6.29%. The price of Futures Contract 09 is 1,320.50, with a daily decrease of 9.00, a weekly decrease of 32.50, a monthly decrease of 26.00, and an annual decrease of 3.79%. The price of Futures Contract 01 is 1,201.00, with a daily decrease of 12.50, a weekly decrease of 60.00, a monthly increase of 16.50, and an annual decrease of 5.99% [2]. Inventory Information - **Total Inventory**: The total inventory is 3,359.36, with a weekly decrease of 2.16, a monthly increase of 39.79, and an annual decrease of 15.58% [2]. - **Coal Mine Inventory**: The coal mine inventory is 165.06, with a weekly decrease of 0.53, a monthly decrease of 40.35, and an annual decrease of 47.52% [2]. - **Port Inventory**: The port inventory is 304.27, with a weekly increase of 14.12, a monthly increase of 9.28, and an annual decrease of 25.83% [2]. - **Steel Mill Coking Coal Inventory**: The steel mill coking coal inventory is 787.30, with a weekly decrease of 9.02, a monthly increase of 6.17, and an annual increase of 6.22% [2]. - **Coking Plant Coking Coal Inventory**: The coking plant coking coal inventory is 1,070.02, with a weekly increase of 17.54, a monthly increase of 110.96, and an annual increase of 18.39% [2]. Other Information - **Coking Capacity Utilization Rate**: The coking capacity utilization rate is 71.64, with a weekly decrease of 0.67, a monthly decrease of 2.60, and an annual decrease of 2.06% [2]. - **Coking Plant Coke Inventory**: The coking plant coke inventory is 85.14, with a weekly increase of 0.15, a monthly increase of 0.42, and an annual decrease of 1.60% [2]. - **Basis and Spread**: The 05 basis is 47.27, with a daily decrease of 53.37, a weekly decrease of 18.37, a monthly increase of 150.78, and an annual increase of 35.72%. The 09 basis is -20.73, with a daily decrease of 55.37, a weekly decrease of 31.87, a monthly increase of 162.78, and an annual decrease of 0.15%. The 01 basis is 98.77, with a daily decrease of 51.87, a weekly decrease of 4.37, a monthly increase of 120.28, and an annual increase of 0.40%. The 5 - 9 spread is -68.00, with a daily decrease of 2.00, a weekly decrease of 13.50, a monthly increase of 12.00, and an annual increase of 0.89%. The 9 - 1 spread is 119.50, with a daily increase of 3.50, a weekly increase of 27.50, a monthly decrease of 42.50, and an annual increase of 0.26%. The 1 - 5 spread is -51.50, with a daily decrease of 1.50, a weekly decrease of 14.00, a monthly increase of 30.50, and an annual decrease of 0.13% [2].

根据《上海证券交易所上市公司自律监管指引第 3 号——行业信息披露第十三 号化工》有关规定和披露要求，现将宁夏宝丰能源集团股份有限公司（以下简称"公 司"）2025 年三季度主要经营数据披露如下： 一、主要产品产量、销量及收入情况 证券代码：600989 证券简称：宝丰能源 公告编号：2025-042 宁夏宝丰能源集团股份有限公司 2025年前三季度主要经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 特此公告。 2025 年 1-9 月，公司实现营业收 3,554,487.88 万元，其中主营业务收入 3,538,019.23 万元，其他业务收入 16,468.65 万元。构成公司主营业务收入的产品产销情况如下： 单位：万吨，万元 序号 主要品种 产量 销量 销售收入 1 聚乙烯 183.98 183.11 1,212,681.74 2 聚丙烯 178.63 178.50 1,130,358.68 3 EVA/LDPE 16.51 16.62 146,581.93 4 焦炭 519.04 517.54 52 ...

Group 1: Federal Reserve Insights - The September FOMC meeting emphasized the risks of employment slowdown and raised the expectation for interest rate cuts in 2025, with a 25 basis point reduction in the federal funds target rate, marking the first cut of the year [2][24] - The statement highlighted the increased risks of employment decline, removing the phrase "labor market remains robust" and adding "employment growth has slowed" [2][24] - The economic forecast showed improved growth expectations and a slight upward adjustment in inflation, with the dot plot indicating three rate cuts in 2025 [2][24][26] Group 2: Banking Sector Analysis - The report indicates that while redemption pressure on banks is generally manageable, there is a notable differentiation among institutions, with smaller banks facing relatively higher pressures [4][38] - Current liquidity management indicators for banks are deemed sufficient, and large-scale asset disposals for liquidity management are not anticipated [4][38] - The trading purpose holdings in bank fund investments are low, suggesting a preference for medium to long-term bond funds, with new regulations on redemption fees not significantly impacting investment behavior [4][38] Group 3: Medical Equipment Market - In August 2025, the total bid amount for medical devices reached 13.065 billion yuan, reflecting a year-on-year growth of 17% and a month-on-month increase of 2% [5][8] - Domestic medical equipment bids showed a strong recovery, with significant growth in categories like endoscopes, while imported brands experienced a slight decline [5][8] - Notable companies like Siemens and GE Medical reported substantial year-on-year growth in their bid amounts, indicating a robust market for medical devices [5][8] Group 4: Coal and Energy Sector - Huabei Mining is positioned as a low-valued coal leader with expected production increases in the next three years, projecting net profits of 1.8 billion, 2.65 billion, and 3.8 billion yuan for 2025, 2026, and 2027 respectively [8][36] - The company has a coal production capacity of 35.85 million tons per year, with ongoing projects expected to enhance profitability [8][36] - The coal chemical business is also expanding, with various projects successfully producing qualified products, indicating a positive outlook for the sector [8][36] Group 5: Renewable Energy Subsidy Situation - The report highlights a growing subsidy gap in the renewable energy sector, with companies like Three Gorges Energy and Huadian New Energy having receivables exceeding 40 billion yuan [10] - Recent acceleration in subsidy recovery is expected to improve cash flow for operators, which could alleviate pressure from receivables [10] - The report suggests focusing on various renewable energy operators and companies transitioning from thermal to renewable energy [10]

Investment Rating - The report assigns a "Buy" rating for the company with a target price of 16.75 CNY, based on a 25x PE for 2025 [6][4]. Core Viewpoints - The company is considered a low-valued leader in coking coal with potential earnings growth from coal, power, and chemical production [4]. - The coal business is expected to see capacity growth and profit improvement due to the resumption of operations at the Xinhui coal mine and the commissioning of the Taohutu coal mine [4][28]. - The chemical business is diversifying and expanding, with projects in production that are expected to reduce losses [2][3]. - The company is also investing in new power generation projects, which are anticipated to contribute positively to profits [3][4]. Summary by Sections Coal Business - The company has 17 operational mines in Anhui with a total capacity of 35.85 million tons/year, with additional capacity expected from the Xinhui and Taohutu coal mines [1][28]. - The Xinhui coal mine is undergoing recovery efforts after a temporary shutdown, while the Taohutu coal mine is projected to be operational by the end of 2025 [1][38]. - The company primarily sells coking and thermal coal under long-term contracts, which mitigates the impact of market price fluctuations [39][41]. Chemical Business - The chemical segment includes subsidiaries that produce coke, methanol, and ethanol, with capacities of 4.4 million tons/year, 900,000 tons/year, and 600,000 tons/year, respectively [2][3]. - Recent projects in the chemical sector are expected to yield qualified products and improve production loads [2][3]. Other Businesses - The company is constructing a new power plant with a projected annual profit of 196 million CNY upon completion [3]. - The non-coal mining segment is also expanding, with limestone resource reserves expected to increase significantly [3]. Financial Data and Valuation - The company forecasts net profits of 1.8 billion CNY, 2.65 billion CNY, and 3.8 billion CNY for 2025, 2026, and 2027, respectively [4][5]. - The company’s current valuation metrics indicate a low PE ratio of 5.03 for 2023, suggesting potential for valuation recovery [5][4].

Report Information - Report Title: Coking Coal Daily Report - Research Team: Black Team of the Research Center - Date: August 4, 2025 [1] Price Information - **柳林主焦**: The latest price is 1312.00, with a daily change of -99.00, a weekly change of -137.00, a monthly change of 184.00, and an annual change of -22.82% [2] - **原煤口岸库提价**: The latest price is 880.00, with a daily change of -52.00, a weekly change of -160.00, a monthly change of 138.00, and an annual change of -29.60% [2] - **沙河驿蒙5**: The latest price is 1220.00, with no daily or weekly change, a monthly change of 150.00, and an annual change of -31.84% [2] - **安泽主焦**: The latest price is 1500.00, with no daily change, a weekly change of 50.00, a monthly change of 320.00, and an annual change of -18.92% [2] - **Peak Downs**: The latest price is 199.00, with a daily change of -1.00, a weekly change of 8.00, a monthly change of 11.00, and an annual change of -30.00 [2] - **Goonyella**: The latest price is 202.00, with a daily change of -1.00, a weekly change of 9.00, a monthly change of 10.00, and an annual change of -27.00 [2] - **盘面05**: The latest price is 1212.50, with a daily change of -52.00, a weekly change of -75.00, a monthly change of 285.50, and an annual change of -22.00% [2] - **盘面09**: The latest price is 1081.00, with a daily change of -55.00, a weekly change of -155.50, a monthly change of 232.50, and an annual change of -25.98% [2] - **盘面01**: The latest price is 1179.00, with a daily change of -54.50, a weekly change of -103.50, a monthly change of 278.00, and an annual change of -23.24% [2] Inventory Information - **总库存**: The latest inventory is 3439.64, with a weekly change of -84.05, a monthly change of -364.93, and an annual change of -0.12% [2] - **煤矿库存**: The latest inventory is 248.26, with a weekly change of -30.18, a monthly change of -161.35, and an annual change of -9.73% [2] - **港口库存**: The latest inventory is 292.34, with a weekly change of -29.16, a monthly change of 6.75, and an annual change of 5.73% [2] - **钢厂焦煤库存**: The latest inventory is 799.51, with a weekly change of 8.41, a monthly change of 18.30, and an annual change of 8.59% [2] - **焦化焦煤库存**: The latest inventory is 985.38, with a weekly change of 56.27, a monthly change of 176.40, and an annual change of 8.97% [2] Other Information - **焦化产能利用率**: The latest utilization rate is 73.69, with a weekly change of 0.24, a monthly change of 0.52, and an annual change of -0.69% [2] - **焦化焦炭库存**: The latest inventory is 86.62, with a weekly change of -0.35, a monthly change of -0.90, and an annual change of -0.36% [2] - **05基差**: The latest value is -4.80, with a daily change of 52.00, a weekly change of 17.53, a monthly change of -37.22, and an annual change of -209.72 [2] - **09基差**: The latest value is 126.70, with a daily change of 55.00, a weekly change of 98.03, a monthly change of 15.78, and an annual change of -0.58 [2] - **01基差**: The latest value is 28.70, with a daily change of 54.50, a weekly change of 46.03, a monthly change of -29.72, and an annual change of -0.87 [2] - **5 - 9价差**: The latest value is 131.50, with a daily change of 3.00, a weekly change of 80.50, a monthly change of 53.00, and an annual change of 0.40 [2] - **9 - 1价差**: The latest value is -98.00, with a daily change of -0.50, a weekly change of -52.00, a monthly change of -45.50, and an annual change of 0.30 [2] - **1 - 5价差**: The latest value is -33.50, with a daily change of -2.50, a weekly change of -28.50, a monthly change of -7.50, and an annual change of 0.81 [2]

Investment Rating - The investment rating for the company is "Outperform the Market" (首次) [1] Core Views - The company is a leading producer of coking coal in East China, with significant operational improvements and a strong asset-liability structure [2][3] - The company possesses scarce coking coal resources, with a total coal resource of approximately 4.49 billion tons and a production capacity of 35.85 million tons per year [2][72] - The company has a competitive advantage in coal quality, washing technology, geographical location, and a strong customer strategy [2][3] Summary by Sections Company Overview - The company, formerly known as 雷鸣科化, restructured in 2018 to focus on coal and coal chemical businesses, with the controlling shareholder being the Anhui Provincial State-owned Assets Supervision and Administration Commission [2][7] Coking Coal Market - The coking coal market in China faces structural shortages of high-quality resources, with coking coal accounting for only about 19% of the total coal resources [2][65] - The company’s coal types include scarce varieties such as fat coal, coking coal, and lean coal, which make up over 80% of its total reserves [2][72] Financial Performance - The company’s revenue is projected to reach 63.1 billion, 68 billion, and 70.1 billion yuan for 2025-2027, with net profits of 3.26 billion, 4.51 billion, and 4.75 billion yuan respectively [2] - The company’s PE ratios are expected to be 10.2, 7.4, and 7.0 for the same period, indicating a reasonable valuation range of 13.4 to 15.1 yuan per share [2] Business Segments - The coal and coal chemical segments contribute over 85% of the company's gross profit, with coal products accounting for 26% of revenue and 69% of gross profit [17][25] - The company is expanding its coal chemical business, with projects like methanol and ethanol production expected to enhance revenue and profit [2][25] Operational Efficiency - The company has improved its debt structure significantly, reducing interest-bearing liabilities from 22.6 billion yuan in 2020 to 10 billion yuan in Q1 2025, with a decrease in the asset-liability ratio from 62% to 46% [2][44]

Group 1: Report Information - Report Name: Coking Coal Daily Report [1] - Research Team: Black Team of the Research Center [1] - Report Date: May 13, 2025 [1] Group 2: Price Information Spot Prices - The latest price of Liulin Main Coking Coal is 1,240.00, with no daily change, a weekly decrease of 60.00, a monthly decrease of 40.00, and an annual decrease of 39.51% [2] - The latest price of Peak Downs is 203.40, with no daily change, a weekly decrease of 0.10, a monthly increase of 13.40, and an annual decrease of 48.10 [2] - The latest price of Goonyella is 204.40, with no daily change, a weekly decrease of 0.10, a monthly increase of 13.40, and an annual decrease of 47.10 [2] - The latest price of Anze Main Coking Coal is 1,270.00, with no daily change, a weekly decrease of 30.00, a monthly decrease of 50.00, and an annual decrease of 38.05% [2] - The latest price of Mongolian No. 5 at Shaheyi is 1,220.00, with no daily change, a weekly decrease of 10.00, a monthly decrease of 50.00, and an annual decrease of 35.11% [2] - The latest price of raw coal at the port warehouse pick-up is 820.00, a daily decrease of 5.00, a weekly decrease of 15.00, a monthly decrease of 20.00, and an annual decrease of 40.15% [2] Futures Prices - The latest price of Futures Contract 05 is 860.50, a daily decrease of 5.50, a weekly decrease of 24.50, a monthly decrease of 56.00, and an annual decrease of 42.44% [2] - The latest price of Futures Contract 09 is 878.00, a daily decrease of 5.50, a weekly decrease of 37.00, a monthly decrease of 118.50, and an annual decrease of 50.45% [2] - The latest price of Futures Contract 01 is 891.00, a daily decrease of 14.00, a weekly decrease of 73.00, a monthly decrease of 160.00, and an annual decrease of 52.52% [2] Basis and Spread - The 05 basis is 194.81, a daily increase of 0.40, a weekly increase of 9.19, a monthly decrease of 20.53, and an annual decrease of 23.66% [2] - The 09 basis is 177.31, a daily increase of 0.40, a weekly increase of 21.69, a monthly increase of 41.97, and an annual decrease of 4.03% [2] - The 01 basis is 164.31, a daily increase of 8.90, a weekly increase of 57.69, a monthly increase of 83.47, and an annual decrease of 2.01% [2] - The 5 - 9 spread is -17.50, with no daily change, a weekly increase of 12.50, a monthly increase of 62.50, and an annual decrease of 0.94% [2] - The 9 - 1 spread is -13.00, a daily increase of 8.50, a weekly increase of 36.00, a monthly increase of 41.50, and an annual decrease of 0.88% [2] - The 1 - 5 spread is 30.50, a daily decrease of 8.50, a weekly decrease of 48.50, a monthly decrease of 104.00, and an annual decrease of 0.92% [2] Group 3: Inventory and Utilization Information - The total coking coal inventory is 3,810.16, a weekly increase of 11.72, a monthly increase of 33.86, and an annual increase of 18.54% [2] - The coal mine inventory is 390.43, a weekly increase of 31.91, a monthly increase of 54.92, and an annual increase of 36.87% [2] - The port inventory is 311.78, a weekly decrease of 13.01, a monthly decrease of 35.78, and an annual increase of 40.76% [2] - The steel mill coking coal inventory is 784.79, a weekly increase of 2.31, a monthly increase of 15.24, and an annual increase of 5.95% [2] - The coking plant coking coal inventory is 959.28, a weekly decrease of 9.68, a monthly increase of 7.69, and an annual increase of 6.17% [2] - The coking plant coke inventory is 87.22, a weekly decrease of 0.15, a monthly decrease of 0.22, and an annual decrease of 0.45% [2] - The coking capacity utilization rate is 75.44, a weekly decrease of 0.12, a monthly increase of 2.48, and an annual increase of 6.15% [2]

Report Information - Report Title: Coking Coal Daily Report - Research Team: Black Team of the Research Center - Date: May 6, 2025 [1] Price Information - **Coal Prices**: The latest price of Liulin Main Coking Coal is 1300.00, with no daily change, a weekly increase of 60.00, a monthly increase of 35.00, and an annual decrease of 35.00%. The price of Peak Downs is 203.50, with no daily or weekly change, a monthly increase of 20.00, and an annual decrease of 57.00. Other coal types also show various price changes [2]. - **Inventory Prices**: The total inventory is 3789.96, with a weekly decrease of 23.47, a monthly increase of 1.65, and an annual increase of 16.94%. Different inventory types (coal mine, port, steel mill, coking) also have their own change trends [2]. - **Futures Prices**: The price of Futures 05 is 912.00, with a daily increase of 25.00, a weekly increase of 23.00, a monthly decrease of 88.50, and an annual decrease of 44.00%. Other futures contracts (09, 01) also show different price changes [2]. - **Basis and Spread**: The 05 basis is 158.61, with a daily decrease of 30.10, a weekly decrease of 38.31, a monthly increase of 6.87, and an annual increase of 94.05. The 5 - 9 spread is -15.50, with a daily increase of 33.50, a weekly increase of 51.00, a monthly increase of 49.50, and an annual decrease of 0.91. Other basis and spread data also show specific changes [2]. Capacity Utilization and Inventory - **Coking Capacity Utilization**: The coking capacity utilization rate is 75.56, with a weekly increase of 0.20, a monthly increase of 2.88, and an annual increase of 12.93% [2]. - **Coking Coke Inventory**: The coking coke inventory is 87.37, with a weekly decrease of 0.18, a monthly decrease of 0.01, and an annual decrease of 0.15% [2].