煤炭ETF（515220）涨超2%，供给约束叠加旺季来临，煤价具备向上弹性

Core Viewpoint - The coal ETF (515220) has continued to rebound, with a rise of over 2% today and an increase of more than 11% in October, indicating strong market performance and investor interest [1][2]. Group 1: Market Performance - The coal ETF has seen a significant inflow of capital, with its share increasing by over 340% this year, bringing its current scale to over 13 billion yuan [2]. - The coal market is experiencing tightening supply and demand dynamics, with domestic coal production growth slowing and import volumes declining year-on-year [2]. Group 2: Price and Demand Outlook - The average coal price has improved on a month-on-month basis, and the third quarter is expected to show a noticeable improvement in the coal industry's performance [2]. - With expectations of a cold winter and sustained high demand for iron and steel, coal demand in the peak season may exceed expectations, supported by constrained supply [2]. Group 3: Investment Considerations - The fundamental and financial aspects of the coal sector may resonate positively, and the high dividend yield of the coal sector enhances the investment value of the coal ETF (515220) [2]. - Investors are encouraged to pay attention to the coal ETF (515220), which is the only coal ETF available in the market [2].