1. Steam Coal: Generating capacity grows initially, and coal price maintains steady.
2. Coking coal: Price is weak to rise. Recently, the market continues the stable situation; however, its price is weak to surge due to cumbrance of sliding demand of downstream steel companies.
3. Anthracite: Fertilizer capacity recovers, and price surges.
4. Coke: Its price will probably touch the bottom for the second time.
5. Investment rating: In march 2009, coal industry continues the pattern that supply exceeds demand, thus we keep “Neutral” rating intact for the coal industry.