Guotai: Overweight three coal stocks

Coal stocks were mostly bucking the trend yesterday. Guotai The latest release of the industry Analysis report that coking coal prices to the bottom of the increase in coking coal sector investment rating to "overweight." The corresponding increase of Xishan coal power (000983), Panjiang shares (600395), Kailuan shares (600997) rating to "overweight", up Lu ' an ring energy (601699), ping Coal Shares (601666) to "cautious overweight", the overall industry and the power coal industry still maintain a "neutral" rating, The optimum variety of power coal is Datong coal industry (601001) and state-cast Xinji (601918). The report pointed out that the first quarter of Inner Mongolia, Guizhou, Shaanxi, Xinjiang, Anhui are 5 large coal production provinces, the total increase of more than 80%, Shanxi, Henan Province is the main production.　　Inner Mongolia, Xinjiang, Shaanxi, Guizhou and other provinces with larger yield increases, township coal mines accounted for relatively high, and township coal mine ≠ small coal, northern provinces except Shanxi, Inner Mongolia, Shaanxi, Xinjiang and other mining conditions are better provinces, Township coal Mine scale, the government's weak regulatory power. Steel prices rebounded from May 1 after 10 consecutive weeks of declines, the report said. The more concentrated steel production capacity of the Tangshan is currently scarce, the coke price of Kailuan shares is still in short supply after 100 yuan, but the endurance of iron and steel is limited, and the space of coking continues to increase, while the price of steel is still rising; direct power plant consumption of coal in the 9 consecutive weeks since March 1 after the decline, the first rebound on May 10,　　With the increase of the capacity utilization of steel mills and related industries, the power industry's demand for power coal is expected to turn better. The report said that the power coal imports still have arbitrage space, coking coal domestic and foreign prices. The recent rebound in international shipping costs, the Australian-Japanese month in the last half of the monthly price of October 2008 high, the monthly Rose 16.41%. The increase of transportation cost has weakened the competitiveness of imported coal, but there is still arbitrage space for the current power coal import. Considering the freight, in early May, the Australian coal to shore price is still higher than the domestic 25 U.S. dollars/ton, the difference is less than October 2008, November, narrowing the difference of about 5 U.S. dollars, but still a high level of history, coking coal to the shore price of 1100 yuan/ton, the price difference at home and