动力煤继续下探;焦炭暂稳;焦煤高位震荡。

The price of thermal coal continues to decline; coke remains stable for now; coking coal fluctuates at a high level.

动力煤(今日智库2026.7.6)：产地供应偏弱，但需求更弱，煤矿维持长协发运，市场煤出货承压，价格继续下跌。港口方面，下游需求延续低迷，港口库存居高不下，同时产地端及进口煤行情仍在走弱，多重利空压制下市场看空氛围较浓，主流成交价格也在继续下探。秦港5500大卡报价816元/吨(-8)，5000大卡报价723元/吨(-8)，4500大卡626元/吨(-7)，环渤海港合计库存2929.6万吨(-5)。

Peat Coal (Today Think Tank 2026.7.6): Supply from production areas is weak, but demand is even weaker. Coal mines continue to deliver under long-term contracts, while market coal sales are under pressure. Prices continue to fall. At the ports, downstream demand remains sluggish, and port inventories remain high. Meanwhile, the supply from production areas and imported coal are still weakening. Under the combined influence of multiple negative factors, the bearish sentiment in the market is quite strong, and the main transaction prices are continuing to decline. The quoted price for 5500 kcal peat coal at Qin Port is 816 yuan/ton (-8), 5000 kcal is 723 yuan/ton (-8), and 4500 kcal is 626 yuan/ton (-7). The total inventory at the Bohai Rim ports is 2929.6 million tons (-5).

焦炭(今日智库2026.07.6)：焦炭市场暂稳运行，主产地准一级冶金焦价格1680元/吨。基本面的情况变化不大，焦企生产正常，利润丰厚，下游钢企按需采购，贸易商依旧观望，整体市场供需基本平衡;情绪面，面对焦企的提涨要求，钢企暂未回复，市场看弱情绪浓厚，在焦炭提涨乏力的情况下，价格可能就会迎来下跌。短期市场继续暂稳运行。后期持续关注煤价及铁水产量情况。

Coke (Today Think Tank 2026.07.6): The coke market is currently stable. The price of primary grade metallurgical coke in the main production areas is 1680 yuan per ton. The fundamental situation has not changed much. Coke producers are operating normally and making substantial profits. Steel enterprises are purchasing coke as needed, while traders remain cautious. The overall market supply and demand is basically balanced. Emotionally, in response to the price increase demands from coke producers, steel enterprises have not responded yet. The market sentiment is weak. In the absence of strong price increases for coke, prices may decline. The market will continue to remain stable in the short term. In the future, we will continue to monitor the coal prices and iron water production.

炼焦煤(今日智库2026.7.6)：供应端，山西煤矿产量恢复缓慢，昨日长治一年产120万吨动力煤民营矿井发生井下顶板安全事故，造成1名作业人员遇难，目前涉事煤矿停产整顿，尚未波及到周边区域。洗煤厂和贸易商观望为主，按需补库。线上竞拍流拍增加，成交溢价明显下降。需求端，下游焦钢企业按需补库，钢厂检修计划增多，焦炭面临下跌压力。需求有下降预期，焦煤价格上涨乏力，在供应短缺的支撑下，短期内高位震荡运行。

Bituminous Coal (Today Think Tank 2026.7.6): Supply side, the output of coal mines in Shanxi Province has recovered slowly. Yesterday, a major accident occurred in the underground roof of a private mine in Changzhi, resulting in the death of one worker. Currently, the affected coal mine has been shut down for rectification and has not yet affected the surrounding areas. Coal washing plants and traders are mainly observing and replenishing stocks as needed. Online auctions have failed, and the transaction premium has significantly decreased. Demand side, downstream iron and steel enterprises are replenishing stocks as needed, and the number of steel plant maintenance plans has increased. Coking coal is facing downward pressure. There is an expectation of a decline in demand, and the price increase of coking coal is weak. Supported by the shortage of supply, it will run at a high level with short-term fluctuations.

港口库存充足，终端对高价煤接受度一般，港口俄罗斯煤报价以稳为主，现K4主焦煤1400元/吨;GJ1/3焦煤1330元/吨，涨15元/吨;Elga肥煤1250元/吨;伊娜琳肥煤1315元/吨;K10瘦煤1420元/吨;以上均为北方港现金含税自提价。蒙5原煤价格1200元/吨，涨35元/吨;蒙5精煤1363元/吨;蒙3精煤1220元/吨，涨10元/吨;短盘运费65元/吨。

The port inventory is sufficient. The terminals' acceptance of high-priced coal is moderate. The Russian coal quotations at the port remain stable. Currently, the price of K4 coking coal is 1400 yuan per ton; GJ1/3 coking coal is 1330 yuan per ton, up by 15 yuan per ton; Elga lean coal is 1250 yuan per ton; Inalin lean coal is 1315 yuan per ton; K10 lean coal is 1420 yuan per ton; All of these are cash and tax-inclusive pick-up prices at the northern port. The price of Meng 5 raw coal is 1200 yuan per ton, up by 35 yuan per ton; Meng 5 refined coal is 1363 yuan per ton; Meng 3 refined coal is 1220 yuan per ton, up by 10 yuan per ton; short-term transportation cost is 65 yuan per ton.