Analysis Of The Domestic Coal Supply And Demand Fundamentals

 Looking at the demand structure of coal, about 60% is used for power generation The coal used in coal chemical industries is slightly above 8%, and currently, during the off-season for coal consumption, domestic coal supply is still relatively restrained. Like the first two months of this year, domestic raw coal production was 7.63 billion tons, a decrease of 0.3% compared to the previous year, with limited new capacity added. This may also be due to the impact of safety regulatory factors, similar to those seen last year. In early April, another coal mine safety accident occurred in Shanxi, which may lead to increased safety regulation and potentially impact production 8%.

 Currently, we are in the off-season for coal consumption, and domestic coal supply remains relatively restrained. Like the first two months of this year, domestic raw coal production was 7.63 billion tons, a decrease of 0.3% compared to the previous year, with limited new capacity added. This may also be due to the impact of safety regulatory factors, similar to those seen last year. In early April, another coal mine safety accident occurred in Shanxi, which may lead to increased safety regulation and potentially impact production.

 Looking ahead to the entire year, in such circumstances, we believe that the role of coal as our energy safety cushion and stabilizing force will not be shaken.