Gelonghui, September 10 | Bank of China International published a research report stating that domestic thermal coal prices are expected to strengthen in the near future as coal stocks fall to their lowest level in nearly six months and demand from non-electricity customers picks up. Domestic coking coal prices may have even begun to rise as steel mills increase production and increase coking coal stocks before the Lunar New Year. In view of the current low price of coking coal, the bank lowered its average coking coal price forecast for 2024-26 by 0.9 to 1%. Bank of China International pointed out that after the recent drop in stock prices, most coal stocks seem very attractive. The bank upgraded the rating of China's coal industry from “neutral” to “increase in holdings.” Among them, the rating of Shougang Resources was raised from “hold” to “buy”, and the target price was lowered from HK$3.50 to HK$3.13; Yankuang Energy and China Shenhua were the first choice in the industry, with ratings of “buy”, with target prices of HK$13.35 and HK$40.23, respectively.