核心要点:煤价超跌,目前处于底部区间2025 年初至今,煤炭行业经历供需格局重塑,煤价中枢加速下行。根据百川盈孚数据,动力煤方面:截至6 月13 日,CCTD 秦皇岛Q5500 动力煤市场价为620 元/吨,同比下跌29.94%。根据Wind 数据,焦煤方面:截至6 月18 日,山西吕梁主焦煤价格为1050 元/吨,同比下跌44.74%。价格的持续下行,导致部分煤矿减产,叠加旺季需求的预期,我们...
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