本周市场表现：截至5 月26 日收盘，本周公用事业板块上涨1.08%，表现优于大盘，其中电力板块上涨1.25%，燃气板块下跌0.59%。

区域失衡与“公转铁”，带来铁路运输新挑战：通过产能分布情况与供给侧改革前后对比看，除华北、西北地区以外，其他地区煤炭基本处于净调入状态，区域内供给不足，对晋陕蒙地区煤炭依赖度提高，“西煤东用、北煤南用”的区域供需格局分化明显，这同时对煤炭运力配置也提出了挑战。

受阿拉善煤矿事故影响，4 月国内煤炭生产供应有所收紧。4 月国内原煤产量38145 万吨，同比增长5.14%；环比增长-8.57%。进出口方面，4 月煤及褐煤进口4068 万吨，同比增加72.74%，环比增加-1.19%。4 月国内煤炭供应（国产煤与净进口合计）40637 万吨，同比增加8.66%，环比增加-7.84%。山西省受安监趋严影响，煤炭产量也有所下滑，4 月生产原煤11130.6 万吨，同比增长2.91%，环比增长-6.51%。截至5 月29 日，布伦特原油收报76.62 美元/桶，环比4 月底下跌8.4%，同比下跌36.08%；IPE 英国天然气收报57.36 便士/色姆，环比4 月底下跌40.31%；IPE 鹿特丹煤炭期货收盘价118.10 美元/吨，环比4 月底下跌15.19%。国内煤价受进口煤明显增量及经济复苏延后，下游需求不足影响，5 月份整体下跌。截止5 月26 日，广州港山西优混库提价1030元/吨，京唐港主焦煤库提价1800 元/吨，天津港一级冶金焦2090 元/吨，环比4 月底分别变化-9.25%、-14.29%、-19.31%。

The Latin American region hosts some of the world’s largest reserves of metallic and non-metallic minerals, according to the Mineral Commodities Summary issued by the United States Geological Service (USGS) in February 2023. As per USGS data, the region is home to the world’s largest reserves of copper, lithium, silver, and niobium, and it also has significant reserves of tin, lead, zinc, iron ore, gold, molybdenum, and manganese. Besides, Latin America is home to both the largest and the second-largest producers of copper (Chile and Peru), the largest producer of niobium and the secondlargest producer of iron ore (Brazil), the second- and fourth-largest producers of lithium (Chile and Argentina), and the biggest and third-biggest producers of silver (Mexico and Peru, respectively).

Mining is destructive and harmful to the environment, but it has long been the only way to obtain metals and minerals used in various industries. These materials are used in various products such as smartphones, laptops, drywall, and food cans, and as the world's population is growing, the use of various products is growing. For decades, continued reliance on non-renewable resources has been a provocative issue, with environmentalists highlighting the seemingly limitless demand for destructive resource extraction and industry leaders claiming that the modern world cannot function without these practices. One thing is certain non-renewable resources are just a source that will eventually run dry.

Polysilicon or polycrystalline silicon is a high-purity form of silicon that consists of a number of smaller crystals or crystallites. It is a key raw material used in manufacturing solar modules and semiconductor chips. It is used for a wide range of applications in these end uses. Polysilicon is manufactured using the Siemens process. Furthermore, technological advances in the production process can be good growth opportunities for manufacturers. Growth in renewable energy sources is expected to increase the demand for polysilicon over the forecast period, as it will increase the manufacturing of solar cells.

氢的制取主要有三种较为成熟的技术路线。一是以煤炭、天然气为代表的化石能源重整制氢；二是以焦炉煤气、氯碱尾气、丙烷脱氢为代表的工业副产气制氢；三是电解水制氢。据中国氢能联盟，氢能产业发展初期，增量侧，将以工业副产氢就近供给为主；中期（2030 年），将以可再生能源发电制氢、煤制氢等大规模集中稳定供氢为主；远期（2050 年），将以可再生能源发电制氢为主。