[SMM Daily Commentary: Shanxi Holds Special Meeting on Coal Mines; Market Pessimism Intensifies]

Today, the Energy Bureau of Shanxi Province held a special meeting on the safe production and quality improvement of coal mining enterprises in the province. The expected increase in coal supply has increased significantly, causing concerns about supply expansion in the market. On the demand side, the enthusiasm for online bidding of coking coal this week has obviously decreased. Although the transactions are still acceptable, downstream sentiment has clearly weakened. In the future, under the pressure brought by the large supply expectations, the spot market price of coking coal will remain stable but slightly weak.