Energy Transition & Power Demand▲2
Coal mining concept strengthens in trading, institutions say coal price uptrend is clear
The coal mining concept strengthened in trading, with the sector rising 3.07%. Among related constituent stocks, Dayou Energy rose 10.00%, Zhengzhou Coal Industry rose 9.06%, Liaoning Energy rose 8.28%, China Coal Energy rose 6.78%, and Haohua Energy rose 4.96%. A research report from Sealand Securities pointed out that in June 2026, raw coal output fell 9.7% year-on-year, the largest drop in a decade, with significant supply-side contraction. Over the same period, thermal coal and primary coking coal prices rose 39.93% and 71.93% year-on-year respectively, with the supply-demand gap continuing to widen and the coal price uptrend clearly established. A research report from Shenwan Hongyuan Securities noted that from January to May 2026, thermal power generation increased 3.4% year-on-year, expected to drive total coal consumption up 3.0% for the full year, while the supply side is tightening due to the window for capacity reduction and import contraction. The coal price center is likely to enter a long-term upward channel of fluctuating increases.