Changes in Hong Kong stocks | Coal stocks continue to decline, the National Development and Reform Commission and other departments demand that Shanxi Province speed up the resumption of work and production in coal mines that have been shut down

The Zhitong Finance App learned that coal stocks continued to decline. As of press release, Yankuang Energy (01171) fell 5.00% to HK$10.63; Shougang Resources (00639) fell 4.74% to HK$2.615; China Coal Energy (01898) fell 4.34% to HK$9.92; and China Shenhua (01088) fell 2.30% to HK$41.56.

According to the news, on October 16, the National Development and Reform Commission and the National Energy Administration, together with relevant departments, held a conference in Taiyuan, Shanxi to promote work to speed up the resumption of coal mine production and increase production and supply. The conference called on Shanxi Province to speed up the resumption of work and production in shut-down coal mines, make every effort to increase coal supply on the basis of ensuring safety, and promote the smooth operation of the coal market.

Changjiang Securities believes that the current resumption of production may be more difficult to make up for the gap. Given that downstream power plants still have room to withstand coal prices, coal prices are expected to maintain a strong trend at a high level in November-December as demand for replenishment continues to be released. The current sector position reflects the coal price of about 850 yuan/ton, which is significantly lower than the current spot coal price. It is an opportunity for adjustment or allocation for the sector.