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gtja: Global perspective on the impact of the US economic downturn on the coal industry in china
The international coal price has a relatively weak impact on China mainly because it is not globally priced like crude oil and natural gas, especially in the USA, which is the largest variable in terms of marginal demand elasticity. China accounts for 56% of global coal demand and has an import dependence of only about 10%.
Coal industry concept stocks collectively rose. Yancoal Aus (03668) rose 3.64%. Institutions pointed out that as the strong season approaches, coal demand is gradually increasing.
Coal stocks rose collectively, with Hidili Industry (01393) up 3.95%, Shougang Res (00639) up 3.79%, Yancoal Aus (03668) up 3.64%, Mongol Mining (00975) up 3.12%, China Coal Energy (01898) up 2.46%, China Shenhua Energy (01088) up 2.26%, and Yankuang Energy (01171) up 1.37%. Everbright Securities said that the recent impact of safety supervision continues, coupled with the coming peak season, coal demand is gradually increasing, and the bank is still bullish on the support of peak season demand for coal prices at the end of August.
We Like These Underlying Return On Capital Trends At Shougang Fushan Resources Group (HKG:639)
Coal stocks rose across the board. Yancoal Aus (03668) rose by 2.8%. Open Source Securities expects the high dividend investment logic of the coal industry concept to remain the main trend.
Jingu Finance| Coal stocks rose across the board, with Yancoal Aus (03668) up 2.8%, China Qinfa (00866) up 2.56%, Shougang Res (00639) up 2.56%, Kinetic Dev (01277) and China Shenhua Energy (01088) following the trend. On the news side, research reports from Kaiyuan Securities suggest that the coal sector is expected to embrace a new layout starting this round of investment, which combines high dividends and cyclicality. The high dividend investment logic for coal stocks remains the mainstream, as in the current weak economy and low interest rate environment, funds pay more attention to the certainty of investment returns, which is in line with the sustainability and high dividend yield of coal.
Debang Securities: Coal industry shareholding and market cap both increased in Q2 2024, with a narrower range of low allocation.
In Q2 of 2024, the coal industry had a relatively outstanding market performance, outperforming the SSE Composite Index and achieving both excess and absolute returns. It ranks fourth in the Shenzhen Stock Exchange first-level industry in terms of increase.
Citic Sec: From 'having coal' to 'being capable', coal-electricity integration gains growth opportunities.
With the government relaxing its control on electricity prices, the overall net asset return of the "coal + electricity" sector has exceeded the market's average return. It is economically feasible to extend downstream power generation through the coal-electricity integration model relying on upstream resources.
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