全市场唯一煤炭ETF（515220）午后涨超3%，规模超120亿元

Core Viewpoint - The thermal coal market has rebounded, with price increases driven by supply-side factors, including rainfall, work stoppages, and equipment maintenance affecting production in key regions [1] Group 1: Market Dynamics - The main coal-producing regions are expanding the range of price increases, leading to a slight rise in coal prices [1] - Downstream demand remains stable, with large groups stabilizing prices, resulting in a slight recovery in transportation willingness from some stations and washing plants [1] - The sales of cost-effective coal mines have improved, and the price is expected to find support around 700 yuan/ton before the year-end [1] Group 2: Supply and Demand Factors - Supply in certain areas has tightened due to adverse weather and maintenance activities, impacting overall production [1] - The upstream sector is raising quotes due to rising costs and expectations for winter storage, making low-priced sources harder to find [1] - Future price trends will depend on the release of downstream demand and the accumulation of inventory at northern ports [1] Group 3: Investment Opportunities - The coal ETF (515220), which tracks the CSI Coal Index (399998), offers a high dividend yield, exceeding 5.3% over the past 12 months [1] - In the context of declining risk-free interest rates, the investment value of the coal sector is highlighted, suggesting a strategy of gradual accumulation of coal ETF (515220) to seize investment opportunities in the coal sector [1]