CITIC Securities said a multi-agency push to secure coal production has been
rolled out to restart mines and accelerate release of advanced capacity. The
measures target a stable rebound in output to support peak-season demand, but
gains will be constrained by safety requirements, approval procedures and
monthly production-intensity limits. Given demand recovery and gradual, orderly
supply repair, the firm expects the sector to remain overall supply-tight and
coal prices to stay elevated, and recommends accumulating well-performing coal
names on dips.