Guotai Asset Management flags summer-driven rebound in China spot coal prices, lifts sector stocks
KOL•Summer-driven rebound in China spot coal prices
Guotai Asset Management flagged a rebound in China’s spot thermal coal prices, driving a sharp rally in coal equities.
Port thermal coal slid to CNY 792/ton from CNY 863/ton since late June; Qinhuangdao Q5500 showed early stabilization.
Demand, oil and inventory factors supporting the sector
Oil surged more than 9% in the prior session, reviving fuel-substitution trades and lifting broader resource-sector sentiment.
Summer demand signals improved as power-plant coal burn rose with the end of the rainy season and higher temperatures.
Upside depends on peak-summer weather, daily coal burn, and port and utility inventories; supply constraints remain a key support.
