---
title: "The price of thermal coal has soared to its highest level in over a year, HDECL has achieved two consecutive limit-ups"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/278686886.md"
description: "On March 11, the price of thermal coal surged to its highest level in over a year, with HDECL hitting the daily limit for two consecutive days, and other coal stocks such as China Coal Energy and Gansu Energy Chemical also rising. The escalation of military conflicts in the Middle East has posed challenges to the global energy supply chain. Analysts believe this is the largest external shock since the Russia-Ukraine conflict in 2022, with strong bullish sentiment in the market, and high volatility and high prices are expected to persist. Research reports from Dongzheng Futures and Huaxi Securities indicate that the geopolitical situation will continue to impact energy prices"
datetime: "2026-03-11T06:14:14.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278686886.md)
  - [en](https://longbridge.com/en/news/278686886.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278686886.md)
---

# The price of thermal coal has soared to its highest level in over a year, HDECL has achieved two consecutive limit-ups

On March 11, the coal sector fluctuated and rose, with **HDECL (600726.SH)** achieving a two-day limit-up, and **China Coal Energy (601898.SH)**, **Gansu Energy Chemical (000552.SZ)**, **Yankuang Energy (600188.SH)**, **Haohua Energy (601101.SH)**, and **China Shenhua (601088.SH)** following suit.

On the news front, with the sudden escalation of military conflicts in the Middle East, the global energy supply chain is facing severe challenges, and the price of thermal coal has surged to its highest level in over a year. Analysts pointed out that this is the largest external shock to the global coal market since the Russia-Ukraine conflict in 2022. Considering that the current energy gap is difficult to fill in the short term, bullish sentiment in the market remains strong, and it is expected that the high volatility and high price situation will continue until the situation clarifies.

Dongzheng Futures released a research report stating that the continued closure of the Strait of Hormuz has led to an upward adjustment in market energy valuation expectations. The duration of the Middle East conflict has become the biggest uncertainty. Currently, overseas coal prices have been priced in for about a month of blockade, and attention should be paid to the further evolution of the situation. Coal prices are strong externally but weak internally, with medium to long-term valuation still having upward risks, while short-term expectations are for a volatile market.

Huaxi Securities' research report stated that the structural main line will switch from technology to the price increase chain by 2026. From the perspective of SW first-level industries, by 2026, the price increases in oil and petrochemicals, coal, chemicals, and non-ferrous metals will lead. Under the catalysis of geopolitical situations, the price increase chain may continue to unfold. The energy chain, influenced by geopolitical situations, has a high certainty of price increases, with related sectors including oil and gas, coal chemical, upstream raw materials in chemicals, and shipping

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