煤炭行业周报：煤价涨幅扩大，上冲700有可期-20250811

Investment Rating - The report rates the coal industry as "Positive" [1] Core Views - The report indicates that coal prices are expected to continue rising due to supply constraints and increased demand from power plants, with a notable week-on-week increase in daily coal consumption by 11% [4][11][39] - The report highlights that the coking coal prices are also anticipated to rise, driven by supply reductions and strong demand from steel mills, particularly in the context of pre-holiday stockpiling [24][39] Summary by Sections Market Performance - The equity market showed a general upward trend, with the coal sector outperforming the index, as the coal industry index rose by 3.65% during the week [5][39] - Major coal companies saw significant stock price increases, with Shaanxi Coal Industry leading at 9.90% [5] Thermal Coal - Thermal coal prices are on the rise, with supply constraints due to extreme weather affecting production in key regions [10][11] - The report notes that the utilization rate of thermal coal mines is at 89.9%, indicating a slight decrease, and that imports are also declining due to price competitiveness [10][12] Coking Coal - Coking coal prices are expected to continue increasing, supported by strong demand from steel production and low inventory levels [23][24] - The report mentions that the average operating rate of coking coal mines is at 85.0%, reflecting a decrease in production capacity [23][28] Shipping Situation - The number of vessels at anchor in the Bohai Sea has significantly decreased, leading to an increase in shipping rates for coal [32] Industry News - The report discusses the resumption of premium coal exports by China Pingmei Shenma Group and the successful trial of a heavy-load railway by the National Energy Group [35][36]