China’s thermal coal prices to find support as power generation grows, says Citigroup

摘要

China’s thermal coal prices are likely to find support in the near term as coal-fired generation is expected to increase and as utilities stock up for the peak summer demand season, Citigroup analysts said in a research note Thursday. “We expect thermal power generation to grow more strongly year on year. This is supportive of thermal coal demand, as utilities stock up for stronger prompt coal demand and peak summer power generation season,” Citi said in a research note.