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煤炭板塊走強 焦炭盈利能力再創新高 動力煤旺季需求或超預期
格隆匯 11-09 10:42
格隆匯11月9日丨煤炭板塊拉昇走強,山西焦化漲超6%,陝西黑貓漲超4%,平煤股份、大同煤業、陝西煤業等跟漲。焦炭盈利能力再創新高,行業格局優化持續。上週焦炭價格再度提漲,測算焦化單位毛利達到約550元/噸,再創2018年高位以來的最好水平(測算2018.9月最高單位毛利約750元/噸)。國泰君安證券指出,根據國家氣候中心公佈的預測,預計今年冬季(2020年12月至2021年2月)影響我國的冷空氣活動頻繁,全國大部氣温接近常年同期到偏低,隆冬(2021年1月)可能出現大範圍強低温雨雪過程。冷冬的確定將有望使動力煤旺季需求超預期,支撐煤炭價格。該機構認為,需求持續改善帶來的市場對順週期板塊配置增加,煤炭板塊作為低估值、高股息、滯漲板塊,在經濟數據和煤價配合的基本面下仍將有持續表現空間。

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