中煤能源：2月末港口5500大卡动力煤价格748元/吨，环比增长52元/吨，上涨7.5%

Core Viewpoint - The coal market is experiencing a steady yet slightly strong operation due to various factors including reduced terminal power plant loads, coal supply contraction, and low port inventories [1] Group 1: Market Performance - In February, the price of 5500 kcal thermal coal at ports was 748 RMB/ton, an increase of 52 RMB/ton, representing a 7.5% month-on-month rise and a 6.7% year-on-year increase [1] - The overall market for thermal coal is expected to show balanced and narrow fluctuations in March, with spot prices projected to oscillate between 720 RMB/ton and 760 RMB/ton [1] Group 2: Influencing Factors - The anticipated market conditions in March are influenced by ongoing geopolitical tensions, weak overall coal demand, slow recovery of domestic supply, and a slight rebound in port inventories [1]