Coking Coal Futures Fluctuate Amid Stable Spot Market; Narrow Range Expected

[SMM Daily Commentary: Futures Market Fluctuates While Coke Spot Market Remains Stable]

Today, the coking coal futures market experienced fluctuations, with market sentiment showing signs of improvement. In terms of market transactions, as the futures market gradually strengthened, the spot market also witnessed improved trading today, with online auction prices mostly experiencing slight increases. Both downstream coke enterprises and traders' speculative demand have rebounded. Looking ahead, due to the sustained relatively high level of coal mine supply and the expectation of further declines in coke prices, it is difficult for coking coal prices to rebound significantly in the short term, and it is expected that they will continue to fluctuate within a narrow range.