Group 1 - The black metal market continues to show signs of recovery, with the steel sector experiencing a significant increase on February 25, as the Steel ETF (515210) rose nearly 6% [1] - According to Guotai Junan, steel prices are witnessing a genuine upward trend, with both rebar futures and spot prices strengthening simultaneously, and iron ore and coking coal varieties also performing well, leading to a sustained increase in market sentiment [1] - Data from the National Bureau of Statistics indicates that the price of coking coal (main coking coal) increased by 0.5% in mid-January 2026 compared to the previous period, suggesting that demand may remain strong even in the off-season [1] Group 2 - The Steel ETF (515210) tracks the CSI Steel Industry Index (930606), which selects securities from listed companies in the steel industry, including both ordinary and special steel sectors, to reflect the overall performance of China's steel industry-related listed companies [1]

Core Viewpoint - The market price of coking coal (main coking coal) in late January 2026 is reported at 1489.3 yuan per ton, reflecting a year-on-year increase of 6.38% and a month-on-month increase of 0.49% [1] Price Trends - The price of coking coal in late January 2026 is significantly lower than the peak price of 2700 yuan per ton recorded in late January 2022 [1] - The data indicates a consistent price trend over the past five years, with fluctuations observed in the market [1]

Core Insights - The report by Zhiyan Consulting highlights the market price trends of coking coal in China, indicating a price of 1482.1 yuan per ton as of mid-January 2026, which represents a year-on-year increase of 5.86% and a month-on-month increase of 0.48% [1] Price Trends - The coking coal market price reached its peak in mid-January 2022 at 2658.1 yuan per ton, marking the highest value in the past five years [1] - The report provides a statistical analysis of the price fluctuations of coking coal from 2020 to mid-January 2026, showcasing the volatility and trends in the market [1]

Core Insights - The National Bureau of Statistics reported a comprehensive increase in coal prices across various types, with anthracite coal showing the most significant rise [1] Price Changes Summary - Anthracite coal (washed middle block) price reached 904.2 CNY/ton, an increase of 41.2 CNY/ton, representing a 4.8% rise [1] - Shanxi premium mixed coal (5500 kcal) price was 702.7 CNY/ton, up by 8.5 CNY/ton, reflecting a 1.2% increase [1] - Coking coal (main coking coal) price stood at 1482.1 CNY/ton, with a rise of 7.1 CNY/ton, indicating a 0.5% increase [1] - Additionally, the price of coking coal (quasi-first-grade metallurgical coke, with ash content between 12.01% and 13.50%) remained stable at 1346.4 CNY/ton, unchanged from the previous period [1]

Core Viewpoint - The National Bureau of Statistics released the price changes of important production materials in the circulation field for early January 2026, indicating a mixed trend with 27 products increasing in price, 20 decreasing, and 3 remaining stable [1]. Group 1: Price Changes Overview - In early January 2026, 27 out of 50 monitored important production materials saw price increases compared to late December 2025 [1]. - Conversely, 20 products experienced price declines, while 3 products maintained stable prices [1]. Group 2: Coal Price Trends - The price of anthracite coal (washed middle block) is reported at 863.0 yuan per ton, reflecting a decrease of 2.8% from the previous period [1]. - Shanxi blended coal (5500 kcal) is priced at 694.2 yuan per ton, showing a decline of 0.5% compared to the last period [1]. - Coking coal (main coking coal) is priced at 1475.0 yuan per ton, which is a decrease of 1.7% from the previous period [1].

Core Viewpoint - The National Bureau of Statistics reported a general decline in coal prices in early January, with a notable reduction in the price drop of thermal coal [1] Price Changes Summary - Anthracite (washed middle block) price is 863.0 CNY/ton, down 24.7 CNY/ton, a decrease of 2.8% [1] - Shanxi premium mixed coal (5500 kcal) price is 694.2 CNY/ton, down 3.5 CNY/ton, a decrease of 0.5% [1] - Coking coal (main coking coal) price is 1475.0 CNY/ton, down 25.0 CNY/ton, a decrease of 1.7% [1] - Additionally, the price of coke (quasi-first-grade metallurgical coke, 12.01% ≤ ash content ≤ 13.50%) is 1346.4 CNY/ton, down 50.0 CNY/ton, a decrease of 3.6% [1]

Core Insights - The National Bureau of Statistics reported on December 4 that in the monitoring of prices for 50 important production materials across nine categories in the national circulation market, there were notable price changes in November 2025 [1] Price Changes Summary - 15 products experienced price increases, while 30 products saw price decreases, and 5 products remained stable [1] - Specifically, the price of live pigs (external three yuan) decreased by 2.6% compared to the previous period [1] - The price of coking coal (main coking coal) also saw a decline of 2.5% in the same timeframe [1]

Core Insights - The National Bureau of Statistics reported on the price changes of important production materials in the circulation sector for mid-November 2025, indicating that 30 products saw price increases, 17 experienced declines, and 3 remained stable [1] Coal Sector - The price of anthracite (washed middle block) is 950.3 CNY/ton, up 0.1% from the previous period [2] - The price of ordinary mixed coal (4500 kcal) is 642.3 CNY/ton, up 5.0% from the previous period [2] - The price of Shanxi mixed coal (5000 kcal) is 736.1 CNY/ton, up 4.7% from the previous period [2] - The price of Shanxi superior mixed coal (5500 kcal) is 829.1 CNY/ton, up 4.2% from the previous period [2] - The price of Datong mixed coal (5800 kcal) is 875.0 CNY/ton, up 4.3% from the previous period [2] - The price of coking coal (main coking coal) is 1650.0 CNY/ton, up 1.6% from the previous period [2]

Core Insights - The market price of coking coal (main coking coal) in mid-September 2025 is reported at 1421.4 yuan per ton, reflecting a year-on-year decline of 12.53% and a month-on-month decline of 0.04% [1] - The highest price recorded in the past five years for coking coal was in mid-September 2021, reaching 3980 yuan per ton [1] Price Trends - The price of coking coal has shown a significant decrease from its peak in 2021, indicating a downward trend in the market [1] - The year-on-year and month-on-month price changes suggest a stabilizing market, albeit at lower price levels compared to previous years [1]

Group 1 - The core viewpoint of the article highlights that the market price of coking coal (main coking coal) in late August 2025 is 1425 yuan/ton, reflecting a year-on-year decline of 12.31% and no change compared to the previous month [1] - The highest price recorded in the past five years for coking coal was 3150 yuan/ton in late August 2021, indicating significant price volatility in the market [1] Group 2 - The data source for the price changes of coking coal from 2019 to late August 2025 is the National Bureau of Statistics [2]