动力煤：产地涨跌互现，涨价动力不足

Group 1: Investment Rating - No relevant information provided Group 2: Core View - The price of thermal coal at the origin shows a mixed trend with insufficient upward momentum. It is expected that the price will be mainly in a sideways shock in the short - term, and will maintain a narrow - range shock near the Two Sessions due to the strong wait - and - see atmosphere [1] Group 3: Summary by Directory 1. Fundamental Tracking - Price Data: The current prices, month - on - month and year - on - year changes of thermal coal in different production areas (Shanxi Datong, Inner Mongolia Ordos, Shaanxi Yulin), ports (Qinhuangdao Port), overseas (Indonesia, Australia) and February long - term agreement prices are provided [1] - Macro and Industry News: On March 2, the market sentiment in the northern ports was average. Upstream supply increased, downstream demand was poor, and the price increase momentum was insufficient. However, the high price of imported coal supported the domestic market, and the price decline was also blocked. The thermal coal market at the origin showed a mixed trend. Some coal mines had good shipments, while some coal mines with high previous price increases faced sales pressure and price corrections [1] 2. Trend Intensity - The trend intensity of thermal coal (based on the spot price of thermal coal in northern ports) is 1 [1]