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citic sec: Coal prices are expected to remain stable, and the sector is expected to further rise.
The demand side benefited from the start of winter storage in the north, while the demand from non-power and station traders also remained stable, but compared to the strong pre-holiday inventory, there has been a slight weakening, resulting in some coal mines quoting slightly lower prices.
HK stocks are active | Coal stocks continue to rebound in the near term, and coal prices have strong resilience. The sector's performance may continue to show a year-on-year improvement trend.
Coal industrial concept continues recent rebound, as of the time of publication, Southgobi (01878) rose by 12.32%, closing at 2.37 Hong Kong dollars; Mongol Mining (00975) rose by 7.38%, closing at 8 Hong Kong dollars; Yanzhou Coal Australia (03668) rose by 2.58%, closing at 29.8 Hong Kong dollars; China Coal Energy (01898) rose by 1.66%, closing at 8.57 Hong Kong dollars.
Recent 16% Pullback Isn't Enough to Hurt Long-term SouthGobi Resources (CVE:SGQ) Shareholders, They're Still up 280% Over 5 Years
Coal industrial concept (coal industry) collectively under pressure. Mongol Mining (00975) fell by 9.87%, institutions point out that thermal coal prices are difficult to have further upward drive.
Jinwu Finance News | Coal stocks are collectively under pressure, with Green Leader (00061) falling 10%, Mongol Mining (00975) falling 9.87%, Southgobi (01878) falling 8.48%, China Shenhua Energy (01088) falling 4.91%, China Coal Energy (01898) falling 4.99%, Kinetic Dev (01277) falling 4.42%, Yankuang Energy (01171) falling 4.29%. GTJA Futures states that, overall, the current spot thermal coal prices are showing a weak and stable running trend. In terms of production areas, coal mines are mainly purchasing to ensure supply and for rigid demands such as chemicals, with a few experiencing significant price reductions.
gtja: The bottom of coal price in the second half of the year is expected to not break 800 yuan/ton, and the turning point is estimated to be in mid-September.
In the first half of 2024, the performance of dividend assets with a high proportion of long-term contracts continued to significantly outperform the industry. The performance pressure brought by the simultaneous decline in volume and price in the first half of the year has been released, determining that the bottom coal price in the second half of the year will not break 800 yuan/ton, and the turning point is expected in mid-September.
SouthGobi Announces Voting Results of the Special Meeting
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