煤炭股批量涨停，煤炭ETF涨8.25%，能源ETF广发、能源ETF涨超4%

Core Viewpoint - The coal sector is experiencing significant growth, driven by rising coal prices and supportive government policies aimed at stabilizing key industries, including steel and energy [1][2][3] Market Performance - A-shares recorded a total trading volume of 1.93 trillion yuan, marking the highest level since March 6, with the Shanghai Composite Index rising by 0.62% to reach a new annual high [1] - The coal sector saw a strong afternoon rally, with several stocks hitting the daily limit, leading to an 8.25% increase in the coal ETF and over 4% gains in energy ETFs [1] Policy and Industry Dynamics - The Ministry of Industry and Information Technology announced a new round of growth stabilization plans for ten key industries, including steel and coal, to combat low-price competition and promote product quality [2] - The "anti-involution" policy aims to regulate low-price competition and facilitate the exit of outdated production capacity, which is expected to support coal prices [2] Supply and Demand Analysis - On the supply side, coal production has shown signs of reduction due to economic pressures, with national raw coal output recorded at 400 million tons in May and 420 million tons in June, projecting an annual total of approximately 4.8 billion tons [3] - Import levels have dropped significantly, with June coal imports reaching a three-year low, down 25.93% year-on-year, marking the fourth consecutive month of decline [3] - The demand side is expected to improve as electricity consumption increases, with a growth rate of 4.4% since May, and thermal power generation turning positive at 1.2% [2][3]