中国材料 - 反内卷调研之旅-China Materials-Anti-Involution Trip Day 3
2025-09-04 01:53
September 3, 2025 10:48 AM GMT China Materials | Asia Pacific Anti-Involution Trip Day 3 On the third day of our anti-involution Trip, we focused on the coal industry in Shanxi. Price rebound in July and August not making all coal mines profitable. Despite the price for both coking and thermal coal rebounding over the last two months, some ~40-50% of SOE mines are still running at a loss, with loss-making coking coal mines now representing ~20% of industry capacity. Overproduction inspection and anti-involu ...