经历了之前的大跌之后,随着宏观面转暖,煤炭供给底部弱平衡,下游钢材触底反弹,焦炭市场迎来新一轮涨势可期。首先,煤炭供给底部弱平衡。2011年下半年之后,随着需求变弱,上轮宽松后产生的剩余产能迅速对市场产生供给压力。以秦皇岛库存为代表的国内煤炭库存迅速增加,期间甚 Experienced the plunge, with the macroscopic warming, weak supply of coal at the bottom of the balance, downstream steel bottomed out, the coke market usher in a new round of gains can be expected. First, the coal supply is weakly balanced at the bottom. After the second half of 2011, as the demand weakened, the surplus capacity resulting from the last round of easing pressured the market rapidly. The stock of domestic coal, represented by Qinhuangdao Stock, increased rapidly during the period