Changes in Hong Kong stocks | Coal stocks fell again, and Shanxi made every effort to promote the orderly resumption of coal production, and the profit differentiation of coal companies in the third quarter was divided month-on-month

The Zhitong Finance App learned that coal stocks fell again. As of press release, Yancoal Australia (03668) fell 4.38% to HK$30.58; Yankuang Energy (01171) fell 3.84% to HK$10.76; China Shenhua (01088) fell 2.43% to HK$42.54; China Coal Energy (01898) fell 1.68% to HK$9.685.

According to the news, the Shanxi Provincial Energy Administration held a special conference on increasing coal production and supply in the province on November 2. The conference emphasized strict implementation of section 17 of the new coal regulations to make every effort to resume coal production in an orderly manner and increase production and supply. According to my steel network, a total of 40 coking coal mines in Shanxi are currently still out of production, a decrease of 4 from week to week.

It is worth noting that the profits of coal companies split month-on-month in the third quarter. Huachuang Securities believes that spot coal prices at the port rose in the latter half of the third quarter, but the long-term settlement was delayed, and most of the price increase dividends were delayed until Q4; combined with production restrictions, production restrictions led to a decline in production and an increase in the fixed cost of tons of coal. Combined, the Q2 profit base was high, and profits from the integrated supporting business weakened, and eventually there was a divergence of “spot price increases and Q3 profits weaken month-on-month.”