Hong Kong coal stocks collectively surged, with FS ANTHRACITE rising over 100%, YANKUANG ENERGY up over 5%, CHINA QINFA increasing nearly 5%, CHINA COAL up 3%, and CHINA SHENHUA and Power Development rising 2%. Yancoal Australia and Yida Commodity rose over 1%.
In terms of news:
Many areas in the north have experienced a "cliff-like" drop in temperature, with Mohe, Heilongjiang, seeing temperatures plummet to -25°C on the morning of October 25, setting a new historical low for late October; some regions in Hulunbuir, Inner Mongolia, dropped below -30°C, marking the coldest in nearly a decade for the same period; in Heihe and Mohe, Heilongjiang, snow depth exceeded 30 centimeters, with some stations nearing or surpassing 50 centimeters, setting a new record in observation history. As the cold wave hits, cities like Zhangjiakou and Daqing have begun heating in advance, officially kicking off the seasonal consumption peak for coal.
Looking back at the first half of 2025, the overall supply of the coal market was relatively loose, with insufficient demand support, leading to a continued downward trend in coal prices. However, at this current juncture, the resonance between the realization of peak season demand and policy-driven supply contraction may become an important opportunity to drive the coal sector out of its trough and welcome valuation recovery