Changes in Hong Kong stocks | Coal stocks are rising against the market, and the supply and demand pattern continues to be tight, thermal coal and coking coal prices are rising at the same time

The Zhitong Finance App learned that coal stocks rose against the market. As of press release, Shougang Resources (00639) rose 4.26% to HK$3.06; Power Development (01277) rose 2.58% to HK$2.19; Yankuang Energy (01171) rose 2.34% to HK$14.01; and Yancoal Australia (03668) rose 1.52% to HK$34.74.

According to news, since August, the prices of thermal coal and coking coal have accelerated at the same time. Guosheng Securities pointed out that coal prices strengthened again this week, mainly due to heavy rainfall in the main production areas, where supply was originally tight, production contracted further due to heavy rainfall, and railway shipments declined sharply due to heavy rainfall, which led to an accelerated depletion of stocks in Beigang. Additionally, due to the impact of production cuts, the Electricity and Coal Presidents Association's compliance volume or passive reduction has led to an increase in market-based procurement, further exacerbating the tight coal spot situation, and coal prices have once again strengthened in response.

Guoxin Securities pointed out that in the short term, supply recovery in production areas is slow before the National Day, and the low level of customs clearance for Mongolian coal is difficult to recover quickly. Combined with the peak season of gold, nine, and silver, and the approach of winter storage replenishment, coal fundamentals remain strong, and there are too many pullbacks. In the medium term, there is a possibility that customs clearance of Mongolian coal will gradually resume. After the downstream phased inventory replenishment is completed, weak demand for terminals will reappear, and there is downward pressure on prices.