【SMM Daily Report: Futures Market Declines Sharply, Expectations of Coke Price Reduction Increase】

Today, the futures market declined sharply, with the futures price of coking coal breaking through the annual low. Influenced by the futures market, the spot trading of coking coal was sluggish today, with a significant increase in online auction failures, and small declines in some coal types. Looking ahead, although the fundamentals of coking coal are not too contradictory, the market's bearish sentiment has obviously intensified due to the impact of the futures market. It is expected that the price of coking coal will remain stable with a tendency to weaken.