Core Insights - The coal market in China is currently in a relatively loose balance, with daily coal production maintaining above 12 million tons since July [1] - As of July 28, coal inventories at major ports are at high levels, with 27.81 million tons at the Bohai Rim ports and 5.76 million tons at Qinhuangdao port [1] - Coal prices have shown a decline, with the long-term contract price for Qinhuangdao 5500 kcal thermal coal at 666 CNY/ton, down 27 CNY/ton from the beginning of the year [1] Group 1: Current Market Conditions - The average daily coal production has been over 12 million tons since July, indicating a stable supply [1] - The total coal inventory across the country exceeds 200 million tons, sufficient for 30 days of consumption [1] - From January to June, the industrial raw coal output reached 2.4 billion tons, a year-on-year increase of 5.4% [1] Group 2: Price Trends - The long-term contract price for Qinhuangdao 5500 kcal thermal coal was 666 CNY/ton in July, reflecting a decrease of 27 CNY/ton since the start of the year [1] - The spot price for the same coal grade was recorded at 646 CNY/ton on July 28, indicating stable prices during the peak summer consumption period [1] Group 3: Future Strategies - The National Energy Administration plans to enhance monitoring and analysis of supply and demand dynamics in the coal market [2] - There will be a focus on maintaining stable production and supply, with guidance for coal-producing provinces to adhere to production capacities [2] - The administration aims to improve the quality and flexibility of coal supply by approving modern coal mine projects and implementing a coal capacity reserve system [2]