[Galaxy Securities: short-term coal price pressure still needs to pay attention to positive factors of changes in supply and demand] April 18, Galaxy Securities Research report said that the port price of thermal coal continues to decline. In March 2023, China imported 41.165 million tons of coal, an increase of 24.742 million tons, or 150.65 percent, over 16.423 million tons in the same period last year, and 11.995 million tons, or 41.12 percent, over 29.17 million tons in February. The pattern of loose supply continues, and short-term coal prices are under pressure, but given the shrinking performance-to-price ratio of imported coal and the continued depressed performance of hydropower, some procurement demand is still expected to release, and the decline in coal prices is expected to be limited. Individual stocks recommend China Shenhua, China Coal Energy, Shaanxi Coal Industry, Yanzhou Mining Energy, Shanxi Coking Coal, and China Xuyang Group, the leader of coking coal and coke coal chemical industry.