The Zhitong Finance App learned that coal stocks fell collectively. As of press release, Power Development (01277) fell 6.91% to HK$1.82; Yancoal Australia (03668) fell 5.71% to HK$32.04; Yankuang Energy (01171) fell 4.94% to HK$11.17; China Coal Energy (01898) fell 4.82% to HK$10.26.

According to the news, thermal coal prices have continued to rise strongly since breaking through the 1,000 yuan mark on October 10. As of October 13, the liquidation price of 5,500 kcal thermal coal (produced in Shanxi) at Qinhuangdao Port was 1,013 yuan/ton. Compared with 682 yuan/ton at the beginning of the year, the cumulative increase was 331 yuan/ton, an increase of 48.5%, a two-year high.

It is worth noting that nine central enterprise electricity sales companies in Guangxi Autonomous Region jointly wrote to the autonomous region government, stating that the electricity sales industry will lose 5 billion yuan for the whole year. China Merchants Securities pointed out that short-term downstream acceptance is once again worth paying attention to. The effects of document No. 666 have not yet been reflected. Along with the rise in coal prices, power plant profits are under pressure. The trading level or short-term temporary suppression of long expectations is the biggest disturbance in the sector.

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