【国泰海通煤炭|黄涛团队】周观点:煤炭价格见顶回落,反内卷预计影响H2国内产量

煤炭涛声
Aug 31

正文报告导读:煤炭价格见顶,预计2026H1上半年压力仍在但同比25年同期会趋缓,电煤需求叠加煤炭价格的弹性大概率从2026H2开始,预计26H2煤价可以升至800元/吨以上。投资建议:○煤价见顶回落,7月供需大幅度改善,国企改革排头兵——神华重磅收购,行业“反内卷”持续发酵。2025年8月28日,国家矿山安全监察局起草了《煤矿企业安全生产许可证实施办法(修订草案征求意见稿)》,对比旧版主要变化...

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