What is the future of coal chemical industry?

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With the weakening of the global economy and the sharp drop in oil prices, the booming coal chemical industry has also suffered severe damage, with the coal coking sector virtually being wiped out. Currently, those involved in coal-based chemical production are either state-owned enterprises that are struggling to hold on, or private companies that work alongside coal mines and are also facing difficulties. The industries related to coal-to-oil and olefin production are all operating at a loss, and there are no positive developments in the oil sector as well. According to predictions by major foreign oil companies, crude oil prices could drop to around $20 per barrel. In China, coal-to-oil companies led by Shenhua are also expected to incur losses. The Ningxia Coal Group, which has made significant investments in coal chemical production, is not immune to these problems either. Shenhua and China National Coal Group’s coking businesses are suffering heavy losses, to the point where Shenhua Wuhai is unable to pay its employees on time. As for the future of coal chemistry, opinions vary; I hope friends can share their thoughts on what should be done moving forward and whether this industry can return to its previous state.