China Coal Energy: It is expected that the thermal coal market will show an overall balanced and narrow range of fluctuations in operation.

China Coal Energy recently stated in an investor relations event that in February, due to factors such as decreased demand from end-user power plants, reduced coal supply, and low port inventories, the thermal coal market showed a stable and slightly strong trend. By the end of February, the price of 5500 kcal thermal coal at ports was 748 yuan per ton, an increase of 52 yuan per ton compared to the previous month, up 7.5% month-on-month and 6.7% year-on-year. In March, due to ongoing geopolitical tensions, overall weak coal demand, slow domestic supply recovery, modest increase in port inventories, it is expected that the thermal coal market will show a balanced and narrow fluctuation trend. The spot price of thermal coal at ports is expected to fluctuate between 720-760 yuan per ton.