【SMM Daily Commentary: Coke Futures Drop Sharply While Coke Market Remains Stable】

In terms of supply, coal mine production is generally stable. Although some coal mines have increased production slightly, the overall supply change is not significant. On the demand side, although coke enterprises maintain a high operating rate, their procurement still mainly focuses on demand-based purchasing. There are no significant changes in the fundamentals of coking coal supply and demand. Some key coal types remain tight in supply. Therefore, in the short term, the price of coking coal is expected to remain stable with a slight upward trend. The prices of key coal types such as low-sulfur main coking coal are trending upward, and the overall coal market is expected to remain stable.