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Guojin Securities anticipates that domestic coal production will remain robust in May. Following the adjustment of domestic coal prices, less competitive domestic and international supplies have been weeded out, narrowing the price advantage of imported coal. Consequently, some terminals have shifted their focus to purchasing domestic coal, thereby supporting port coal prices. Over the past six months, the coal market has persisted in a state characterized by "high supply, high inventory, and weak demand." As we approach the summer peak season, traders may vie for power plants' replenishment needs. While coal prices might experience a modest uptick towards the end of May and the beginning of June, the magnitude and duration of this increase will be constrained by the overarching high inventory levels.
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