Jinwu Financial News | Mongolian coking coal (00975) fell against the market. As of press release, it was HK$9.44, down 3.87%, with a turnover of HK$165.59 million.
According to the news, Guojin Securities said that in the future, after the off-season coal prices were lowered under pressure in March-April, coal prices in the port market are expected to bottom out in May, but the increase is limited. Judging from the 1-2 M24 coal price fluctuation experience, whether the port can successfully go to storage is an important condition for whether market coal prices can recover after the off-season. On the demand side, demand for heating shrunk in March-April, electricity and coal consumption entered the traditional low season, and real estate and infrastructure were still being adjusted at the bottom. As a result, the recovery of the non-electricity sector was slow, so port storage and coal prices were lowered; it is expected that downstream power plants peak in May, demand for coal storage and preparation before summer will stimulate port storage and boost coal prices.