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Coal Industrial Concept stocks are generally declining, China Coal Energy (01898) fell by 5.64%. Institutions indicate that at the current time, the high inventory of Thermal Coal still puts pressure on coal prices.
Jinwu Financial News | Coal Industrial Concept(coal Industry) sees widespread decline, SOUTHGOBI (01878) down 8.5%, HIDILI INDUSTRY (01393) down 7.58%, CHINA QINFA (00866) down 5.93%, China Coal Energy (01898) down 5.64%, China Shenhua Energy (01088) down 3.77%, MONGOL MINING (00975) down 3.66%, SHOUGANG RES (00639) down 3.15%, YANKUANG ENERGY (01171) down 2.91%, YANCOAL AUS (03668) down 2.67%. Sealand indicated that, at this moment, with high inventory of Thermal Coal, coal prices remain.
YANCOAL AUS (03668.HK): Appointed Peter Smith as an independent non-executive Director.
On December 17, Gelonghui reported that YANCOAL AUS (03668.HK) announced that Geoffrey William Raby will resign as an independent non-executive Director, as well as Chairman of the Health, Safety, Environment and Community Committee, member of the Nomination and Remuneration Committee, and member of the Strategic and Development Committee, effective December 17, 2024, due to plans to devote more time to other Business activities. In addition, Peter Smith has been appointed as an independent non-executive Director, effective December 17, 2024. Mr. Smith will be appointed to the Health, Safety, Environment...
National Bureau of Statistics: In November, the output of raw coal from large-scale industries was 0.43 billion tons, an increase of 1.8% year-on-year.
On December 16, data from the National Bureau of Statistics showed that in November, the output of industrial raw coal from enterprises above designated size was 0.43 billion tons, a year-on-year increase of 1.8%; the average daily output was 14.266 million tons.
Hong Kong stocks move | YANCOAL AUS (03668) drops over 3% as Morgan Stanley expects Coal prices will be supported by structural imbalances in the international market.
YANCOAL AUS (03668) fell over 3%, as of the time of writing, down 3.64%, reported at 31.75 Hong Kong dollars, with a transaction volume of 10.9325 million Hong Kong dollars.
Major rating | Morgan Stanley: raised YANCOAL AUS Target Price to HKD 39.93 and adjusted profit forecast.
Morgan Stanley published a Research Report indicating an update to the profit forecast for YANCOAL AUS after incorporating new regional thermal coal and coking coal price predictions. Specifically, Morgan Stanley adjusted the regional thermal coal price forecasts for 2024 to 2026 from $135, $120, and $115 per ton to $137, $135, and $125 per ton respectively; at the same time, it adjusted the regional semi-soft coking coal prices from $189.7, $183.2, and $166.8 per ton to $168.9, $145.2, and $155.2 per ton respectively. Additionally, Morgan Stanley revised the earnings per share forecast for YANCOAL AUS for the fiscal years 2024 to 2026.
Coal: can be both offensive and defensive, act according to timing.
The sector has investment value and there are also stage-specific trade opportunities.
