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China Shenhua Energy (01088) reported a cumulative coal sales volume of 0.42 billion tons in the first 11 months, a year-on-year increase of 3%.
Jinwu Finance News | China Shenhua Energy (01088) announced that in November, Coal sales volume was 38.3 million tons, down 3.3%, and Commodity Coal production was 27 million tons, down 1.1%; the cumulative Coal sales volume for the first 11 months was 0.42 billion tons, up 3%, and Commodity Coal production was 0.299 billion tons, up 0.7%. According to the announcement, the total electricity sales for November and the first 11 months were 16.86 billion kilowatt-hours and 191.22 billion kilowatt-hours, respectively, down 0.5% and up 6.8%.
National Bureau of Statistics: In November, the output of raw coal from large-scale industries was 0.43 billion tons, an increase of 1.8% year-on-year.
On December 16, data from the National Bureau of Statistics showed that in November, the output of industrial raw coal from enterprises above designated size was 0.43 billion tons, a year-on-year increase of 1.8%; the average daily output was 14.266 million tons.
Morgan Stanley's investment rating and target price for resource stocks Listed in Hong Kong (table).
Morgan Stanley published a research report, listing the investment ratings and target prices for resource sector H shares as follows: Stock | Investment Rating | Target Price (Hong Kong Dollar) Zijin Mining Group (02899.HK) | Shareholding | 22.9 MMG (01208.HK) | In line with the market -> Shareholding | 2.5 -> 3.6 Aluminum Corporation Of China (02600.HK) | Shareholding | 7.1 -> 5.5 CHINAHONGQIAO (01378.HK) | Shareholding | 14.1 -> 15.4 ZHAOJIN MINING (01818.HK) |
According to "The Big Brokerage," Morgan Stanley favors resource stocks such as CONCH CEMENT (00914.HK), Aluminum (02600.HK), and Hongqiao (01378.HK) in the first half of next year, while being Bullish on Zijin (02899.HK), MMG (01208.HK), Luoyang Molybden
Morgan Stanley published a report, expecting that fierce competition will drag down material stocks in the first half of next year. With supply-side policies in place, preference is given to Cement, Steel, and Aluminum in the second half, while Metal-related Stocks may perform better after stimulus policies are implemented. For the Target Price, please refer to another table. Morgan Stanley noted that recently mainland China has issued new supply-side control measures for excess Cement production, which could lead to over 20% reduction in output, and Cement demand is expected to decline by 5% next year, while this year's drop is 10%. The Steel Industry is also expected to see new supply-side reforms, with a small annual reduction in future production capacity. As new capacity is added next year, oxygen
Morgan Stanley downgraded Jiang Copper (00358.HK) to "Shareholding" and upgraded MMG (01208.HK) to "Shareholding".
Morgan Stanley released a report indicating that in the short term, Copper will be affected by a strong dollar and a lack of effective stimulus measures in China, but the situation may reverse in the second half of next year. On the supply side, the decrease in imported scrap Copper due to tariffs in the USA, coupled with the reduction in Copper concentrate supply, may lead to a decrease in refined Copper production in China, resulting in tight Copper supply. Furthermore, the annual contract negotiations for processing and refining fees next year could significantly lower pricing, with the bank currently expecting about $20 per ton. The bank forecasts that total Copper demand in China will grow by 2% to 3% year-on-year next year, primarily driven by the stimulus for green Infrastructure, which will boost demand in the grid, electric vehicle, and CECEP Solar Energy industries.
China Shenhua Energy (01088.HK) saw a 3.3% decrease in Coal sales in November, with a slight decline of 0.5% in electricity sales.
China Shenhua Energy (01088.HK) announced that in November, the Commodity coal production was 27 million tons, a year-on-year decrease of 1.1%; the Coal sales volume was 38.3 million tons, a year-on-year decrease of 3.3%. In the first eleven months, the cumulative Commodity coal production was 0.299 billion tons, a slight increase of 0.7%; the Coal sales volume was 0.422 billion tons, an increase of 3%. During the month, both electricity generation and electricity sales slightly decreased by 0.5%. In the first eleven months, the cumulative total electricity generation and total electricity sales increased by 6.7% and 6.8%, respectively.
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