Coal stocks continued to rise. As of press release, China Coal Energy (01898) rose 8.84% to HK$8.37; Mongolian coking coal (00975) rose 8.06% to HK$8.65; and South Gobi (01878) rose 7.88% to HK$4.52.
The Zhitong Finance App learned that coal stocks continued to rise. As of press release, China Coal Energy (01898) rose 8.84% to HK$8.37; Mongolian coking coal (00975) rose 8.06% to HK$8.65; South Gobi (01878) rose 7.88% to HK$4.52; South-South Resources (01229) rose 5.71% to HK$0.148; China Shenhua (01088) rose 3.68% to HK$29.55.
Debon Securities pointed out that coal prices are expected to fluctuate at a high level during the peak winter season. Port inventories continued to be eliminated. As of January 19, the nine ports in the Bohai Rim had inventories of 22.91 million tons, a year-on-year decrease of 8.97%. The bank expects the third quarter of 2023 to be the low annual performance. In 2024, industry profits will continue to grow year on year, low and high. Furthermore, the controlling shareholders of a number of high-quality coal companies have successively announced plans to increase their share holdings, showing their confidence. High dividends in the coal sector under low capital expenditure are attractive, and with the continuous promotion of a valuation system with Chinese characteristics, corporate value has received further attention from shareholders.