中金：预计远期煤价中枢有望随边际成本抬升而上行

Core Viewpoint - The research report from CICC suggests that coal prices are likely to rebound in the second half of the year due to rational supply release and marginal demand improvement, which will aid in the recovery of industry profitability [1] Industry Summary - The coal supply is expected to be released more rationally in the second half of the year, which, combined with demand improvements, may lead to an overall rebound in coal prices [1] - Long-term sustainability of industry profitability is considered crucial, with expectations that the long-term coal price center will rise alongside marginal cost increases [1] - Companies with superior resource endowments and lower costs are anticipated to navigate through the economic cycle successfully [1]