中煤能源：预计动力煤市场将呈现整体均衡、窄幅震荡的运行态势

Core Viewpoint - China Coal Energy recently indicated that the thermal coal market is showing a steady yet slightly strong trend due to various factors including decreased load at end-user power plants, reduced coal supply, and low port inventories [1] Group 1: Market Performance - In February, the price of 5500 kcal thermal coal at ports reached 748 RMB/ton, an increase of 52 RMB/ton, or 7.5% month-on-month, and a year-on-year increase of 6.7% [1] Group 2: Future Outlook - In March, the thermal coal market is expected to exhibit an overall balanced and narrow fluctuation trend due to ongoing geopolitical tensions, weak overall coal demand, slow recovery of domestic supply, and a slight rebound in port inventories [1] - The expected price fluctuation range for port thermal coal spot prices is between 720 and 760 RMB/ton [1]