Xin Jing Bao·2025-11-23 05:23Core Viewpoint - The report from Guolian Minsheng Securities indicates that while port coal prices remain stable, prices in production areas are continuing to rise, influenced by supply constraints and increasing demand from power plants [1]. Supply and Demand Analysis - Despite entering the peak season, the likelihood of a significant increase in supply from production areas is low due to strong regulatory measures [1]. - The daily coal consumption by power plants is continuously increasing, and as temperatures drop and industrial production accelerates towards year-end, the demand for electricity and coal is expected to gradually materialize [1]. Inventory and Pricing Outlook - Port inventories have accumulated due to shipping disruptions, but with improving weather conditions, these inventories are expected to decrease [1]. - The available cargo at ports remains tight due to railway capacity limitations, and strong support for shipping costs is noted [1]. - Once demand is fully released, there is potential for coal prices to rise, with a possibility of reaching a peak of 1000 yuan/ton by year-end [1].