China Coal Energy: The thermal coal market is expected to remain generally balanced, with minor fluctuations.

Golden Ten Data reported on March 23 that China National Coal Energy stated in a recent investor relations event that in February, affected by factors such as a decline in terminal power plant load, coal supply contraction, and low port inventories, the thermal coal market showed a generally stable and slightly stronger performance. At the end of February, the port price of 5,500 Kcal thermal coal was 748 yuan/ton, an increase of 52 yuan/ton from the previous month, up 7.5% month-on-month and 6.7% year-on-year. In March, due to ongoing geopolitical tensions, overall weak coal demand, slow recovery of domestic supply, and a slight rebound in port inventories, the thermal coal market is expected to display a generally balanced and narrow range volatility operation, with port spot prices of thermal coal fluctuating between 720–760 yuan/ton.