Chan Ye Xin Xi Wang·2025-05-12 01:36Overview - In 2024, China's coal supply capacity continues to improve, with coal production reaching 4.759 billion tons, a year-on-year increase of 2.17% [1] - The top ten provinces, including Inner Mongolia, Shanxi, Shaanxi, and Xinjiang, account for over 94.52% of the total production, with the four major production areas contributing 3.886 billion tons, or 81.66% of the national output [1] - Coal demand is projected at approximately 5.295 million tons, reflecting a year-on-year growth of 3.24%, despite weak demand from the steel and construction sectors due to a sluggish real estate market [1][14] - The coal industry market size is expected to decline to 3.52334 trillion yuan due to soft non-electric demand and price declines [1] Market Policies - The Chinese government has implemented various policies to promote the clean and efficient use of coal, including plans for water resource conservation, air quality improvement, and the promotion of green manufacturing [5][7] - Policies emphasize the importance of safety in coal mining and the transition towards a greener, high-quality development model for the coal industry [5][7] Industry Chain - The coal industry chain consists of upstream activities such as coal resource exploration and equipment manufacturing, midstream activities including coal mining and washing, and downstream consumption across various sectors like electricity, manufacturing, and residential heating [8][10][12] Competitive Landscape - In 2024, 16 major coal enterprises produced over 500 million tons of raw coal, accounting for 57.36% of the national total, with seven companies producing over 100 million tons each [16] - Major players include China Shenhua Energy, China Coal Energy, and Shanxi Coking Coal, which dominate the market with significant production volumes [16][18][20] Development Trends - The coal production capacity structure is expected to continue optimizing, with policies supporting the development of large modern coal mines and phasing out smaller, less efficient mines by 2025 [22] - The pricing mechanism is anticipated to improve, with a dual-track system for long-term contracts and market prices, aiming to stabilize coal prices while ensuring supply [22]