广发证券：煤价有望逐步企稳回升，4季度延续稳中偏强走势

Group 1 - The core viewpoint is that coal prices have significantly increased since July due to a shift from a loose supply-demand balance to a slightly tighter one [1] - Although there has been some price fluctuation this week, stricter safety regulations and checks on overproduction are expected to limit supply increases, leading to a gradual stabilization and potential recovery of coal prices [1] - In Q2, coal prices were at the bottom range, but leading companies have managed cost control effectively, resulting in strong profit resilience [1] Group 2 - The second half of the year is anticipated to see both volume and price increases, with upward elasticity in valuation and profits expected [1] - The coal sector exhibits clear advantages in terms of valuation and dividend yield [1]