供需改善或支撑煤价企稳，资金积极布局，煤炭ETF（515220）近10日净流入额超1亿元

Group 1 - The coal supply and demand situation has gradually improved in May, with industrial raw coal production reaching 400 million tons, a year-on-year increase of 4.2% [1] - Daily average production remains low at 13.01 million tons, while coal imports have decreased by 18% year-on-year, indicating weakened cost-effectiveness of imports after domestic price adjustments [1] - The demand side shows a positive turnaround in industrial thermal power growth to 1.2% in May, while hydropower has seen a significant decline of 14.3% [1] Group 2 - Non-electric demand, particularly in the chemical sector, remains strong with methanol production up by 19.9% year-on-year, although steel and building materials show mixed performance [1] - Coal inventory at northern ports has decreased by 830,000 tons to 30.245 million tons, with power plant inventories being 6.296 million tons lower year-on-year, leaving room for replenishment during peak season [1] - As of June 13, port coal prices have stabilized at 609 yuan per ton, with expectations of price stabilization driven by rising summer demand [1] Group 3 - The coal industry is characterized by high profitability, strong cash flow, and high dividends, with state-owned enterprises increasing holdings and asset injection plans further enhancing the sector's value attributes [1]