[SMM Daily Commentary: The Third Round of Price Reductions by Steel Mills Hits the Ground, Coke Plants Have Stronger Preferences for Shipment]

The fundamental supply and demand for coking coal remains stable. On the demand side, after the downstream coke enterprises' concentrated replenishment last week, the enthusiasm for procurement today has declined somewhat, and the trading volume of coking coal has also decreased. In terms of supply, coal mines have continued their previous production pace, with stable supply. In the future, there is a strong expectation of coke price hikes, and downstream coke enterprises still have expectations for replenishment. However, due to the recent volatility of coking coal futures, the rise in spot prices of coking coal has been restrained. It is expected that the price of coking coal will continue to run in a stable but slightly stronger trend.