Chinese coal stocks reverse the market to build up steel recovery and promote coking coal price

Recently, the National Development and Reform Commission did not intervene in the electricity coal negotiations and lost the administrative power of the Chinese coal stocks this morning against the city to build good; the earlier signing of the key electricity coal contract and recorded a price of 4% small rise in Yanzhou coal (01171-HK) 1.4%, China Shenhua (01088-HK) and Coal Energy (01898-HK) Also rose 0.39% and 0.11%. or by the steel industry recovery led coking coal prices expected stimulus.　　Due to market comments that the recent rebound in steel prices, steel production is also gradually restored, so the demand for coking coal, the market expected to increase the price of coking coal in the near future, which has become the main reason for the rise of the mining stocks.　　In response to the latest advances in resource tax reform, the market commented that the aim of the reform was to promote energy conservation rather than to curb upstream enterprises, and that the expected improvement in demand could fully offset the increase in resource taxes; short-term coking coal price changes will bring a band of sexual opportunity. According to the Shanghai Securities Journal, the vice Minister of Finance, Wang June, presided over the 2009-year proposal for the reform of resources tax, said that it would take advantage of the downward economic growth and low resource prices to advance the implementation of resource tax reform, and clarified 4 aspects of the reform of the resource tax, including the expansion of the scope of the levy, Reform the mode of levy, raise the level of tax burden and co-ordinate the relationship between tax and taxation.