CITIC Securities' research report pointed out that coal prices rebound

Published: Nov 1, 2023 17:37

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CITIC Securities' research report pointed out that coal prices rebounded significantly in the third quarter of 2023, but the average market price of thermal coal and the quarterly long-term contract price of coking coal still decreased year-on-year, resulting in a significant differentiation of the profit of coal companies due to the difference in sales structure. The overall performance of the Q3 sector decreased slightly year-on-year, which is in line with our expectations, and the operating cash flow also improved year-on-year, and the prosperity still remains high. Looking forward to the third and fourth quarters, under the catalytic effect of seasonal factors and policies, it is expected that coal prices will still fluctuate upwards, and the value attraction of coal leading companies such as undervalued and dividend will still be there, and the favorable sector will rebound.

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