煤炭行业周报：平煤率先进行贷款回购股份，板块投资属性凸显

Investment Rating - The investment rating for the coal industry is "Buy" for Guohui Energy and Huai Bei Mining, and "Hold" for China Shenhua, Shaanxi Coal, and Zhongmei Energy [2][6]. Core Views - The coal sector is showing strong investment attributes, with a focus on companies with resilient performance amid market fluctuations [2][6]. - The report highlights a cautious price adjustment from coal producers due to stable demand and supply dynamics, particularly in the Yulin and Ordos regions [2][3]. - The overall market sentiment is improving as negative expectations dissipate following the disclosure of third-quarter reports [3][6]. Summary by Sections Section 1: Market Performance - The coal sector outperformed the broader market, with a decline of 0.59% compared to a 1.68% drop in the CSI 300 index [12]. - The top-performing stocks in the coal sector included Yongtai Energy (+7.69%), Liaoning Energy (+5.15%), and Electric Power Investment Energy (+3.99%) [15][12]. Section 2: Coal Prices - Domestic coal prices showed mixed trends, with the price of 6000 kcal coal in Yulin at 830 CNY/ton, up 5 CNY/ton week-on-week, while prices in Shanxi and Inner Mongolia experienced slight declines [19][21]. - International coal prices remained stable, with the price of Indonesian coal at Guangzhou port holding steady at 750 CNY/ton [21]. Section 3: Supply and Demand - Power plant coal inventories increased to 12,009 million tons, with daily consumption rising to 4.513 million tons, indicating a slight uptick in demand [27]. - The report notes a decrease in coal inventory at ports, with a total of 2,365 million tons at northern ports, down 6.4% week-on-week [36]. Section 4: Inventory and Transportation - The report indicates an increase in railway transport capacity, while coal inventory at northern ports has decreased [36]. - The inventory of coking coal at six major ports rose to 422.18 million tons, while independent coking plants saw a decrease in inventory [36][42].