20251125-永安期货-焦煤日报_1页_354kb

报告摘要

Summary of Jiao煤 Daily Report for November 25, 2025

The report from the Jiao Coal Center Black Team provides market analysis for coking coal, focusing on price changes, inventory levels, and various indicators. Key aspects:

Price Changes

Liulin Main Coking: Stable at 1645.00 with no daily change, but monthly increase of 70.00 and annual growth of 3.46%, indicating steady market performance.
Mongolian Coal Port Delivery Price: Slightly increased by 10.00 daily, but with negative weekly and monthly changes at -88.00 and -125.00, respectively, showing declining trend over time.
Other prices, like Shash河驿 Main Coking, saw decreases in some periods and increases in others, reflecting volatility.

Inventory Levels

Total inventory reached 3377.01, with a monthly decrease of 16.72%, suggesting reduced demand.
Sub-sectors show mixed results: coal mine inventory and port inventory experienced declines but varied seasonally across the years.

Market Indicators

Basis and Spread Changes: Positive shifts in forward contract prices indicate potential supply constraints, while decreasing spreads may signal easing demand in certain regions.
Capacity Utilization: Steady at 71.71% with minor fluctuations, showing consistent production.
Inventory Imbalances: Stockpiles for steel and coking plants indicate moderate levels, with coking coal inventory rising slightly by 18.2% monthly, but total still down.

Overall, the market shows mixed trends, with some segments experiencing growth and others facing declines due to changing global dynamics and supply factors. The report highlights ongoing volatility and capacity usage stability.