Group 1: Report on Mongolian Coal Customs Clearance Data - In November, the customs clearance vehicles at Ganqimao Port remained at a high level. As of November 15th, the average daily customs clearance vehicles were 1382, and on the 15th, the customs clearance vehicles increased significantly to 1659 per day [3] - The table shows the customs clearance data from October 28, 2025, to November 15, 2025, including the number of customs clearance vehicles, AGV numbers, total customs clearance vehicles, changes, and short - haul freight rates. The short - haul freight rate remained at 90 during this period [6]

1. Report Industry Investment Rating - No relevant content provided 2. Core View of the Report - As of November 15th, the coking coal inventory at the Ganqimao Port was 280.68 tons, showing a slight inventory build - up of 13 tons compared to the previous week and a reduction of 81 tons compared to after the National Day holiday [3] 3. Summary by Related Catalog Inventory Data - A table shows the inventory and its month - on - month changes from August 8, 2025, to November 15, 2025, at the Ganqimao Port. For example, on August 16, 2025, the inventory was 267 tons with a month - on - month decrease of 7 tons; on November 15, 2025, the inventory was 281 tons with a month - on - month increase of 13 tons [6]

Group 1: Report's Industry Investment Rating - No relevant information provided Group 2: Report's Core View - Short - term domestic coal mine production shows a slight recovery, and the Mongolian coal customs clearance volume has significantly increased; demand fluctuates slightly, and attention should be paid to the transmission of off - season pressure to the raw material end. The coking coal price is still operating within the range of 1100 - 1300 yuan/ton [3] Group 3: Summary According to the Content Market Performance - Yesterday, the coking coal and coke futures prices fluctuated weakly. In the spot market, steel mills in some regions accepted the fourth round of coke price increases [3] Production and Supply - This week, coal mine production in many parts of Shanxi has recovered, and there is still an expectation of short - term coal mine production increase. The daily output of clean coal is 75.7 tons, a week - on - week increase of 1.9 tons and a year - on - year decrease of 3.3 tons. Last week (11.3 - 11.8), the average daily customs clearance volume of Mongolian coal at the Ganqimaodu Port increased to 19.52 tons, an increase of 3.09 tons compared with the previous week, and the port supervision area shows an inventory increase trend [3] Demand - The profit of steel mills continues to shrink, and the profitability rate drops below 40%. This week, the daily average pig iron output has rebounded to 236.88 tons, an increase of 2.66 tons compared with the previous week. The phased production restriction policy in the Tangshan area has been lifted recently, which promotes the rebound of pig iron output [3] Price - The coking coal price is still operating within the range of 1100 - 1300 yuan/ton [3]

Group 1: Core Data - As of November 7, the Mongolian coal inventory at the Ganqimao Port was 2672500 tons, with a cumulative inventory increase of 300000 tons [1] - Inventory data and their month - on - month changes from July 10, 2025 to November 7, 2025 are presented in a table, such as on July 10, 2025, the inventory was 355 (unit not specified), with a month - on - month decrease of 2; on July 19, 2025, the inventory was 286, with a month - on - month decrease of 6; on October 7, 2025, the inventory was 200, with a month - on - month decrease of 9 [3]

Group 1 - As of November 7, the coking coal inventory at the Ganqimao Port was 2672,500 tons, with a cumulative increase of 300,000 tons [1] - Inventory data from July 10, 2025, to November 7, 2025, shows fluctuations, with significant decreases in inventory on July 19 (-6) and October 7 (-9) [3]

Group 1: Core View - In November, the number of customs - cleared vehicles at the Ganqimao'du Port increased significantly. As of November 6th, the average daily number of customs - cleared vehicles was 1,396, a substantial increase of 336 vehicles per day compared to the average of 1,060 vehicles per day in October [3] Group 2: Data Summary - The monthly average number of customs - cleared vehicles at the 288 Port in 2023 from January to September were 1,800, 1,600, 1,360, 1,600, 1,252, 1,400, 1,400, 1,200, 1,060 respectively [2]

Group 1 - The report is a data flash on the weekly inventory data of Mongolian coal at the Ganqimao Port [1] - As of October 31, the inventory of Mongolian coal at the Ganqimao Port was 236.77 tons, with a slight inventory accumulation of 22 tons [3] - The table shows the inventory and month - on - month changes of Mongolian coal at the Ganqimao Port from July 10, 2025, to October 31, 2025 [6]

Group 1: Report Core Information - As of October 18, the coking coal inventory at the Ganqimao Port was 231.62 tons, with a slight inventory build - up of 17 tons [3] - Inventory data from July 5, 2025, to October 18, 2025, shows various inventory levels and their month - on - month changes, such as on July 5, 2025, the inventory was 375 tons with a decrease of 16 tons compared to the previous period [6]

Report Investment Rating - No investment rating information is provided in the content [1][2][3][4] Core Viewpoint - The supply and demand of coking coal and coke remain relatively stable, with no prominent fundamental contradictions. Market sentiment is easily influenced by macro - factor changes, so prices should be treated with cautious optimism [4] Summary by Related Content Market Performance - Yesterday, the futures prices of coking coal and coke rebounded fluctuately, with coking coal leading the gains, and the night - session continued the strong trend. The spot market is generally stable with a slight upward trend, and some coke enterprises in certain regions plan to raise coke prices [3] Supply - side Situation - The output of clean coal is in a continuous recovery process. This week, the daily average output of clean coal is 77.9 thousand tons, an increase of 2.7 thousand tons compared with the previous week. Mines have a slight increase in inventory, and the current inventory level at the mine end is low due to pre - holiday downstream restocking. The monthly import volume of coal is rising. In September, about 46 million tons of coal were imported, setting a new high for the monthly import volume this year. From January to September, the cumulative import was 346 million tons, a year - on - year decrease of 11.7% with the decline continuously narrowing. The import volume of coking coal is also rising month by month. After the holiday, the customs clearance volume of Mongolian coal has steadily recovered, with a current daily average of 15.5 thousand tons. The change in Mongolian coal imports needs continuous attention [3] Demand - side Situation - This week, the profitability of coke enterprises has shrunk, which supports their confidence in price - holding. Most coke enterprises maintain a normal production rhythm with a capacity utilization rate of about 74%. Downstream steel still has inventory pressure, especially the inventory of plates is constantly rising. Some steel enterprises in certain regions announced that due to the rise in raw material prices and the decline in finished product prices, steel mill profits are in the red. This week, the daily average pig iron output dropped to 2.4095 million tons, a decrease of 0.59 thousand tons compared with the previous week, and the overall profitability rate is about 55% [3]

Report Information - Report Title: Coking Coal Daily Report - Date: October 15, 2025 - Research Team: Black Team of the Research Center [1] Price Information Spot Prices - The latest price of Liulin Main Coking Coal is 1550.00, with no daily or weekly change, a monthly increase of 149.00 [2]. - The latest price of Peak Downs is 205.00, a daily decrease of 1.00, no weekly change, a monthly increase of 3.50, and an annual decrease of 12.70 [2]. - The latest price of Goonyella is 204.00, a daily decrease of 1.50, a weekly decrease of 1.00, a monthly increase of 3.00, and an annual decrease of 13.70 [2]. Futures Prices - The latest price of Futures Contract 05 is 1223.00, a daily decrease of 17.50, a weekly decrease of 8.50, a monthly decrease of 0.50, and an annual decrease of 20.25% [2]. - The latest price of Futures Contract 09 is 1309.00, a daily decrease of 18.00, a weekly increase of 1.00, a monthly increase of 379.50, and an annual decrease of 14.92% [2]. - The latest price of Futures Contract 01 is 1139.50, a daily decrease of 5.50, a weekly decrease of 6.50, a monthly decrease of 3.00, and an annual decrease of 23.52% [2]. Inventory Information - The total inventory is 3279.19, a weekly decrease of 108.88, a monthly decrease of 37.19, and an annual decrease of 11.10% [2]. - The coal mine inventory is 195.86, a weekly increase of 4.32, a monthly decrease of 58.66, and an annual decrease of 28.62% [2]. - The port inventory is 294.99, a weekly increase of 29.50, a monthly increase of 19.50, and an annual decrease of 25.89% [2]. - The steel mill coking coal inventory is 788.06, a weekly decrease of 8.01, a monthly decrease of 7.70, and an annual increase of 9.33% [2]. - The coking plant coking coal inventory is 1037.71, a weekly increase of 38.64, a monthly increase of 117.66, and an annual increase of 15.01% [2]. Other Information - The coking capacity utilization rate is 75.18, a weekly increase of 0.05, a monthly decrease of 0.74, and an annual increase of 2.26% [2]. - The coking plant coke inventory is 85.53, a weekly decrease of 0.29, a monthly decrease of 0.40, and an annual decrease of 0.29% [2]. - The 05 basis is -60.01, a daily increase of 17.50, a weekly decrease of 21.39, a monthly increase of 95.90, and an annual increase of 10.50 [2]. - The 09 basis is -146.01, a daily increase of 18.00, a weekly decrease of 30.89, a monthly decrease of 284.10, and an annual increase of 0.93 [2]. - The 01 basis is 23.49, a daily increase of 5.50, a weekly decrease of 23.39, a monthly increase of 98.40, and an annual decrease of 1.87 [2]. - The 5 - 9 spread is -86.00, a daily increase of 0.50, a weekly decrease of 9.50, a monthly decrease of 380.00, and an annual increase of 16.20 [2]. - The 9 - 1 spread is 169.50, a daily decrease of 12.50, a weekly increase of 7.50, a monthly increase of 382.50, and an annual increase of 2.49 [2]. - The 1 - 5 spread is -83.50, a daily increase of 12.00, a weekly increase of 2.00, a monthly decrease of 2.50, and an annual increase of 0.92 [2].