Coal Mining Industry 2026 Strategy Report: Supply Depends on Policy, Demand Hinges on Weather

This report focuses on China's coal mining industry, providing a strategic analysis of the thermal coal market for 2026 and beyond. Its core thesis is that 2026 will be the final year of concentrated thermal coal capacity release, with an expected increase in raw coal output of 70 million tons. It forecasts that from 2027 to 2030, coal capacity growth will slow significantly, primarily due to policy adjustments on the supply side. This signals a fundamental shift in the industry's supply structure, transitioning from an expansion phase into a period of stability or contraction, where long-term development will become highly dependent on national energy and environmental policies.