Unbalanced supply and demand coal sector set off a rising tide

Recently, the spot market for coal futures has repeatedly hit historical highs

In fact, the prices of coking coal and coke futures have continued to rise sharply since mid-July.

Coal stocks rose collectively, and the sector index opened higher in volume

The industry believes that the reason for the soaring coal futures spot market is mainly due to the imbalance between supply and demand

From the perspective of supply, under the policy background of coal mine safety supervision, environmental protection production restriction and dual control of energy consumption, the domestic supply of main coking coal is difficult to increase

Regarding the later trend of the coal market, Industrial Securities analysts believe that in terms of thermal coal, the current peak of summer electricity consumption has gradually subsided, but the terminal coal inventory is still at an absolute low level

The Guotai Junan Research Report also believes that although the current peak and off-season switching is facing, due to the long peak season in winter and the short replenishment time, it is difficult for Ordos coal production to continue to increase.

It is worth mentioning that the current soaring coal market has attracted the attention of relevant state departments

　　DCE also issued three notices to adjust the trading margin levels of coking coal and coke futures contracts, implement trading limits for each month of coking coal and coke futures contracts, and adjust the handling fee rates for coking coal and coke-related contracts