煤炭行业事件点评：“反内卷”下哪些煤炭个股值得关注(二)

大同证券2025-07-30

核心观点“反内卷”力度确认是关键。在经历7 月24 日焦煤期货主力合约涨停，7 月25 日大商所发布限制焦煤期货开仓消息，以及7 月28 日焦煤期货全面回调甚至出现跌停后，市场炒作情绪降温，逐渐回归理性，但“反内卷”必要性仍在，对于市场指数如何演绎，需要看“反内卷”的政策力度和执行力度。焦煤现货价格和焦煤指数的走势基本相随。与上篇中动力煤现货价格和动力煤市场走势大差不差，可按照供给侧改革、疫情暴发...

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煤炭行业事件点评：“反内卷”下 哪些煤炭个股值得关注(二)

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煤炭行业事件点评：“反内卷”下哪些煤炭个股值得关注(二)