Lates News

Chen Guo, deputy director and chief strategist of the Oriental Wealth Research Institute, said he continues to have a positive outlook on both new and old energy coal today, as the adjustment cannot be explained by expectations of coal mine resumption and there are no signs of downward movement in fundamentals. The price of coking coal at 2160 yuan per ton is still rising, while the price of thermal coal at 860 yuan per ton has remained stable, indicating that future prices are more likely to rise than fall, with a possibility of further exceeding expectations. It is expected that the mainstream coal mining companies will see a year-on-year growth rate of nearly 100% in Q2 performance, and the certainty of coal prices in the second half of the year will be higher than in the first half, making sustainable high performance growth possible. We believe that unless there are unforeseen circumstances leading to passive selling, coal stocks should not be sold cheaply at this price. We judge that there is still a significant potential for higher-than-expected growth in the second half of the year.