Good performance in the first quarter

The demand of the coal industry is expected to maintain growth

● our reporter Zhang Jun

Data show that at present, 10 listed coal enterprises have disclosed the performance forecast of the first quarter, and all of them have realized the pre increase. The coal sector has risen sharply for two consecutive days under the catalysis of substantial pre increase in performance and higher than expected performance of individual companies.

Under the background of steady growth, driven by downstream demand, coke has been raised for the fifth round. Industry insiders believe that the demand of the coal industry is expected to maintain growth.

Outstanding performance

Jizhong energy, Lanhua Kechuang and Yankuang energy ranked among the top three in the industry.

Jizhong energy is expected to achieve a net profit attributable to shareholders of listed companies of RMB 940 million to RMB 990 million in the first quarter, with a year-on-year increase of 483.98% - 515.05%. Lanhua Kechuang expects to achieve a net profit of 850 million yuan to 950 million yuan attributable to shareholders of Listed Companies in the first quarter, with a year-on-year increase of 274.73% - 318.82%. China coal energy is expected to realize a net profit of 6.45 billion yuan to 7.13 billion yuan attributable to shareholders of Listed Companies in the first quarter, with a year-on-year increase of 83.8% - 103.2%.

The high coal price is the main reason for the pre increase of the performance of coal enterprises in the first quarter. Jizhong energy attributed the pre increase in performance to the continuous high operation of coal market prices since the first quarter. China coal energy also said that the prices of main products were high in the first quarter.

According to the data of China coal market network, from January to February, the annual long-term association price of 5500 kcal thermal coal was 725 yuan / ton, and reported 720 yuan / ton in March; The prices from January to March last year were 581 yuan / ton, 614 yuan / ton and 576 yuan / ton respectively. From January to March this year, the comprehensive trading price of 5500 kcal thermal coal fluctuated around 786 yuan / ton.

It is noteworthy that the performance forecast of China coal energy in the first quarter exceeded market expectations. After the performance forecast was released, two trading boards were harvested, driving the rise of the whole coal sector.

Demand is expected to expand

According to the data of China coal market network, in April, the annual long-term association price of 5500 kcal thermal coal remained at 720 yuan / ton in March, and the comprehensive transaction price remained at 786 yuan / ton in March.

“Indonesia has significantly raised the guide price of thermal coal index, resulting in the further expansion of the price difference at home and abroad. The high price difference will further inhibit the enthusiasm of import. It is expected that the domestic thermal coal is still in a relatively tight state of supply and demand.” The chief analyst of a securities firm said.

The reporter of China Securities Journal noted that under the support of downstream demand, coke is in a tight supply and demand pattern, and some regions have opened the fifth round of rising.

Industry insiders said that at present, the operating rate of rebar rebounded significantly, the capital construction force superimposed on the traditional peak season is coming, and the demand will increase rapidly in the second quarter.

Zu guopeng, chief hydrogen energy analyst at CITIC Securities, said that for coking coal, the demand has not appeared in the peak season since March and has remained low as a whole. In the follow-up, with the easing of the epidemic and the force of policies, the demand for coking coal is expected to usher in a new round of expansion.

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