The Zhitong Finance App learned that coal stocks had the highest gains. As of press release, Shougang Resources (00639) rose 11.37% to HK$2.84; Yankuang Energy (01171) rose 4.48% to HK$11.2; China Coal Energy (01898) rose 3.71% to HK$10.07; and Power Development (01277) rose 3.28% to HK$1.73.
According to the news, Indonesia is expected to maintain a strict annual work plan and budget (RKAB) mining quota control strategy for key mineral resources such as coal and nickel to avoid excessive production of minerals and ensure that international prices do not fall. Currently, Indonesian coal producers are awaiting approval of the 2027 RKAB quota. It is expected to be released as early as December. Delays in quota approval have brought about supply uncertainty, affecting the pace of signing the long-term agreement between enterprises.
Changjiang Securities said that if the supply easing policy is not actually implemented during the year, since supply resumes production at production sites are still progressing slowly, considering that superimposed power plant inventories are currently low during the peak winter coal consumption season, coal prices are expected to remain high in the short term; looking forward to 2027, production will resume production or be relatively limited under the current safety supervision situation, and active increases in superimposed imports will also be limited. The coal price center is expected to rise steadily compared to 2026, thus continuing to be optimistic about the cost performance ratio of the current sector allocation.