Yancoal Aus (03668) is now up more than 4%, as of press time, up 3.94%, at HKD 35.65, with a turnover of 28.5265 million HKD.
According to the Wise Money APP, Yancoal Aus (03668) is now up more than 4%, as of press time, up 3.94%, at HKD 35.65, with a turnover of 28.5265 million HKD.
CMB International previously pointed out that Yancoal Aus's 2Q24 operational data was slightly lower than expected, with equity sales volumes increasing by only 1% year-on-year to 8.6 million tons, due to adverse weather conditions and longwall movement. The average selling price in 2Q24 was down 20% year-on-year, but in line with market trends and the bank's expectations.
China International Capital Corporation pointed out that market expectations for coal demand are weak, and there are concerns that the company's profits will be affected. However, we believe that coal prices are expected to stabilize and pick up in the second half of the year, which is bullish for the company's profit improvement. Potential catalysts include phase mismatches in coal supply and demand that stimulate coal price increases; the company may be included in the S&P/ASX 200 index components after meeting the conditions.