煤炭进口数据拆解:25年11月进口煤价继续提升

山西证券
Dec 30, 2025

(以下内容从山西证券《煤炭进口数据拆解:25年11月进口煤价继续提升》研报附件原文摘录)投资要点:数据拆解:进口煤量收缩趋势继续放缓,进口价上涨。进口量方面,1-11月累计增速实现-12.0%,累计进口煤量仍然呈现收缩趋势;进口煤当月同比连续9个月保持负增速,其中11月进口煤同比降19.88%、环比增5.53%。分煤种来看,四大煤种均呈现单月环比正增,其中无烟煤环比增速较快。动力煤环比小幅增量主要...

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