On June 1, Yanzhou Coal Energy rose 3.02% in regular trading, reaching HK$14.98 per share, with trading volume of HK$116 million. The stock continued its upward momentum driven by intensifying coal supply contraction expectations.

On the news front, a gas explosion at Shanxi Tongzhou Group Liushenyu Coal Mine on May 22 caused significant casualties, prompting province-wide coal mine safety inspections across Shanxi. The number of suspended coking coal mines in Shanxi has risen to 109, representing total capacity of 122 million tons. Multiple provinces including Shaanxi have simultaneously deployed safety inspection measures. Institutions forecast that a second round of significant coal price increases is imminent.

The company previously stated it expects thermal coal prices to remain stable with an upward bias for the full year, with the price center higher than the prior year. Supply-side data shows national raw coal production of 1.58 billion tons in the first four months, down 0.1% year-over-year. Meanwhile, overseas factors including Indonesia tightening coal export policies have further intensified supply concerns. The broader coal sector rallied in tandem, with China Coal Energy up 2.69%, Yancoal Australia up 2.36%, and China Shenhua up 2.31%.

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