18-year high! 601898 reaches the daily limit up.

MaticHoleFiller · 2026-03-13T09:30:26+00:00

On March 12, the coal sector performed strongly, with China Coal Energy hitting the daily limit and reaching new highs, while Yanzhou Coal Mining and Zhengzhou Coal and Electricity also hit daily limits. It is expected that in 2026, coal supply will be constrained by policy, with import volumes remaining stable. Geopolitical factors may push up energy prices, and coal demand shows strong rigidity.

MaticHoleFiller

2026-03-13 09:30:26

Abstract generation in progress

On the morning of March 12, the coal sector continued to rise, with China Coal Energy (601898) hitting the daily limit and reaching a new high since February 2008. Additionally, Yankuang Energy and Zhengzhou Coal & Electricity hit the daily limit, while Lu’an Environmental Energy, JinKong Coal, and Shanghai Energy all rose over 5%.

In terms of news, industry experts generally expect China’s raw coal production growth to slow to 0.7% in 2026, and policies aimed at “reducing internal competition” (such as inspections of overproduction and restrictions on inefficient capacity) will further constrain supply flexibility. Regarding imports, Indonesia plans to cut coal production to 600 million tons by 2026, which could reduce export availability by 80-90 million tons. Combined with limited import growth from Australia and Mongolia, China’s coal imports are expected to remain stable overall in 2026, but seasonal fluctuations will intensify.

According to a research report from Founder Securities, geopolitical factors often lead to rising energy prices. The supply and demand rigidity of coal is greater than that of crude oil, mainly because most countries have substantial crude oil reserves, whereas coal demand for power generation is more rigid.

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