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廣發證券:2025年煤價中樞或有下行 龍頭公司預計盈利保持整體穩健
廣發證券研報表示,4月煤炭行業需求仍處於淡季,煤價總體較爲弱勢,但後期穩增長逆週期調節政策力度加大預期開始增強,且隨着工業需求回升,產量增長放緩及進口煤預期下降,預計煤價在庫存回落後逐步回升。公司方面,2025年煤價中樞或有下行,考慮龍頭公司長協價格相對穩定,成本費用普遍控制有力,預計盈利保持整體穩健。
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