全市场唯一煤炭ETF（515220）涨超2.5%，供需格局支撑四季度煤价偏强预期

Group 1 - The overall supply and demand for coal has improved since the third quarter, with strong market performance post-National Day due to better-than-expected demand and a general decline in supply [1] - Coal prices are expected to remain strong in the fourth quarter due to low inventory levels across various segments and stricter safety and production management [1] - The daily coal consumption of southern power plants has remained at a high level post-National Day, while winter storage demand in northern regions is gradually increasing, contributing to rising coal prices [1] Group 2 - Coking coal prices have increased by 50-70 yuan per ton in October across various regions, with stable demand and year-on-year growth [1] - The coal ETF (515220), which tracks the CSI Coal Index (399998), offers a high dividend yield of over 5.3% as of September 30, highlighting its investment value in a declining risk-free interest rate environment [1] - Investors are encouraged to consider gradually accumulating positions in the coal ETF (515220) to capitalize on investment opportunities in the coal sector [1]