According to the CITIC Securities Research Report, the industry media “My Steel Network” recently reported the news that steel products have been re-included in export license management. It is expected that the policy may curb future steel exports and affect domestic steel production and coking coal demand. CITIC Securities believes that the policy may affect coking coal price expectations in the short term, but in the medium to long term, there is also structural support for demand for high-quality main coking coal, so it is not appropriate to be overly pessimistic about long-term coking coal prices. High-quality prime coking coal companies with resource endowments still have long-term investment value.

According to the CITIC Securities Research Report, the industry media “My Steel Network” recently reported the news that steel products have been re-included in export license management. It is expected that the policy may curb future steel exports and affect domestic steel production and coking coal demand. CITIC Securities believes that the policy may affect coking coal price expectations in the short term, but in the medium to long term, there is also structural support for demand for high-quality main coking coal, so it is not appropriate to be overly pessimistic about long-term coking coal prices. High-quality prime coking coal companies with resource endowments still have long-term investment value.