CITIC Securities: Optimistic about coal prices in Q2; the sector is expected to kick off a new round of market rally

GateUser-bd883c58 · 2026-04-08T06:19:42+00:00

On April 8th, CITIC Securities research report pointed out that, based on tracked sample coal listed companies, the total net profit for Q1 2026 may increase by 2.2% year-on-year. The overall thermal coal companies are expected to see a slight increase, while the metallurgical coal companies are likely to experience rapid improvement. CITIC Securities is optimistic about coal prices in the second quarter. Even if the Middle East conflict eases, energy supply recovery will take time. Coupled with the peak season demand release in the Northern Hemisphere summer, domestic and international coal prices may resonate in the latter half of the second quarter. The price increase effects of coal and chemicals are also expected to be fully reflected in Q2. Once the market forms a new catalyst for coal price expectations, the sector is likely to initiate a new round of rally.

GateUser-bd883c58

2026-04-08 06:19:42

On April 8, a research report from CITIC Securities stated that among tracked sample coal-listed companies, on a combined basis for net profit, year over year in Q1 2026 may rise by 2.2%. Thermal coal companies overall may see only a slight year-over-year increase, while metallurgical coal companies overall are expected to improve rapidly year over year. CITIC Securities expects coal prices to perform well in Q2: even if the conflict in the Middle East eases, it will still take time for energy supply to recover. Combined with the release of demand during the summer peak season in the Northern Hemisphere, domestic and international coal prices in the middle to late part of Q2 may move in tandem. The effect of rising coal and chemical (industry/chemical products) prices in Q2 is also expected to be fully reflected. Once the market forms new catalysts for its expectations of coal prices, the sector is expected to start a new round of market activity.

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