CITIC Securities: Coal Industry's Supply-Demand Dynamics Set to Improve in H2, Potentially Boosting Central Coal Prices Substantially from Q2 Levels
2025-09-02 / Read about 0 minute
Author:小编   

A recent research report by CITIC Securities reveals that coal enterprises have intensified cost control efforts on a per-ton basis this year. Nonetheless, the decline in coal prices has led to a notable drop in the net profit of sample companies, with a year-on-year decrease of approximately 32% and a quarter-on-quarter decline of roughly 15% in the first half of the year. Despite this performance dip, the sector has witnessed heightened activity in mid-term dividend distributions, signaling that leading firms are actively rewarding their investors. Looking ahead, it is anticipated that the overall supply-demand structure of the coal industry will improve in the second half of the year, potentially resulting in a significant increase in central coal prices. Consequently, the third quarter is expected to witness a marked improvement in performance. Additionally, factors such as the enforcement of the "anti-internal competition" policy could emerge as key drivers propelling the sector's performance.