“夏至”的骄阳刺破阴霾，“变”已至

Group 1 - The coal mining sector is experiencing a slight recovery in prices as summer demand begins to rise, with the market showing signs of life after a prolonged period of decline [2][12][36] - The China Coal Index is at 3,215.27 points, down 0.66%, underperforming the CSI 300 Index by 0.21 percentage points, ranking 9th among the CITIC sector performance [2][82] - The report highlights that the main production areas are maintaining stable supply levels, with some coal mines resuming production after previous shutdowns due to safety and environmental inspections [12][39] Group 2 - The report indicates that the demand for thermal coal is gradually increasing as temperatures rise, leading to a quick uptick in daily consumption by power plants [12][27] - Port inventories are decreasing, but the upward price momentum is limited due to cautious buying behavior from downstream users, primarily relying on long-term contracts [14][36] - The report notes that the focus should be on the intensity of demand during the peak season and any potential policy changes that may affect the market [6][12] Group 3 - The coking coal market is showing mixed price movements, with supply constraints due to environmental checks leading to a slight recovery in prices in some regions [39][42] - The report emphasizes that the overall supply of coking coal is decreasing, with some coal mines still not back to full production, impacting market dynamics [39][58] - The report suggests that the future price movements of coking coal will depend on several factors, including domestic production adjustments and potential import disruptions [39][58] Group 4 - Key recommended stocks in the coal sector include China Shenhua, Shaanxi Coal and Chemical Industry, and new energy companies like Electric Power Investment Energy, indicating a positive outlook for these firms [7][8] - The report identifies several companies with strong performance metrics, suggesting that high-quality firms are likely to outperform in the current market environment [8][7] - The focus on coal companies with potential for recovery and growth is highlighted, particularly those that have recently undergone significant changes or restructuring [8]