宝城期货动力煤早报-20250606

Report Summary 1. Report Industry Investment Rating No investment rating is provided in the report. 2. Core View of the Report The core view is that the power coal price is expected to move sideways. Although positive factors are accumulating as the peak season approaches, the medium - to - long - term supply - demand remains loose, and there is a high possibility of the coal price not rising during the peak season this summer [4]. 3. Summary by Related Content - Price and Market Analysis of Power Coal Spot - Intraday and Medium - term View: The reference view is sideways. The core logic is that as the peak season approaches, positive factors for power coal are accumulating, but the overall medium - to - long - term supply - demand remains loose. The domestic coal price is at a low level internationally, leading to a decline in imports. With the arrival of June, the peak summer period is coming, and terminal power plants have some restocking demand, which slightly supports the market sentiment. However, the port inventory is at a five - year high, increasing the possibility of the coal price not rising during the peak season [4].