SMM Daily: Blast Furnace Operating Rate Continues to Decline, Coke Prices Remain Stable

With the landing of the fifth round of coke price cuts, downstream demand has weakened again, leading to increased wait-and-see sentiment among coking enterprises and traders, with a majority of online auctions ending without success. Looking ahead, due to continued losses in downstream coking enterprises, operating rates remain low, and short-term demand for coking coal is unlikely to see significant improvement. It is expected that coking coal prices will continue to trend weakly.