---
title: "Shenwan Hongyuan: The prosperity of the coking steel industry chain is improving, and the import of Mongolian coal is bottoming out and recovering"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/254558582.md"
description: "Shenwan Hongyuan released a research report indicating that with the advancement of \"anti-involution\" and \"checking overproduction\" in the coal industry, the supply and demand pattern of the coking coal industry chain is expected to continue to recover, and the profit from importing Mongolian coal will also improve. It is expected that Q3 will enter a bottoming rebound cycle, recommending Jiayou International and paying attention to E-COMMODITIES. Data shows that the prosperity of the coking steel industry chain continues to improve, with coking coal prices increasing by 13.79% month-on-month. Risk warnings include fluctuations in the coking steel industry chain, fluctuations in coking coal prices, and geopolitical risks"
datetime: "2025-08-26T06:44:05.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/254558582.md)
  - [en](https://longbridge.com/en/news/254558582.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/254558582.md)
---

# Shenwan Hongyuan: The prosperity of the coking steel industry chain is improving, and the import of Mongolian coal is bottoming out and recovering

According to Zhitong Finance APP, Shenwan Hongyuan released a research report stating that with the continuous advancement of "anti-involution" and "checking overproduction" in the coal industry, the supply and demand pattern of the coking coal industry chain is expected to continue to recover. The profits of the Mongolian coal import industry chain are likely to be restored, and relevant logistics supply chain companies for Mongolian coal imports in the region have basically completed the dual pressure test of business volume and performance in Q2, with Q3 expected to enter a bottoming rebound cycle. In terms of targets, Jiayou International (603781.SH) is recommended, and E-COMMODITIES (01733) is under observation.

## Shenwan Hongyuan's main points are as follows:

**Coking steel industry chain prosperity continues to improve**

According to Mystell data, from July to August 22, 2025, the average daily pig iron output of 247 sample steel mills nationwide was 2.4097 million tons, compared to approximately 2.348 million tons during the same period in 2024, a year-on-year increase of 2.63%. In terms of prices, according to iFind data, from July to August 22, 2025, the average price of Shanxi-produced premium coking coal at the port of Jing-Tang was approximately 1,521 yuan/ton, while the average price in Q2 2025 was 1,336.91 yuan/ton, a month-on-month increase of 13.79%. Benefiting from the continuous advancement of "anti-involution" and the coal industry's "checking overproduction," the supply and demand pattern of the coking coal industry chain is expected to continue to optimize, and the profits of relevant players in the coking coal industry chain are likely to enter a recovery cycle.

**Mongolian coal imports bottoming out and recovering**

According to Mysteel data, from July to August 23, 2025, the average daily customs clearance volume of Mongolian coal at the Ganqimaodu port was 133,300 tons/day, compared to 129,600 tons/day during the same period in 2024, a year-on-year increase of 2.84%. In Q2 2025, the average daily customs clearance volume of Mongolian coal at Ganqimaodu port was 113,700 tons/day. Benefiting from the recent recovery in coking coal prices, the short-distance transportation price from Chaganhad stockyard to Ganqimaodu port has risen to 63 yuan/ton.

**Risk Warning**

Fluctuations in the prosperity of the coking steel industry chain, significant fluctuations in coking coal prices, geopolitical risks

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