SMM Commentary: Macroeconomic Expectations Rise, Yet Coke Prices Stabilize Amid Weak Demand

[SMM Daily Commentary: Macroeconomic Expectations Gradually Strengthen, Coke Prices Remain Stable]

Today, coking coal futures experienced narrow fluctuations, with weak trading in the spot market. On the demand side, as there are still expectations of a second round of price reductions for coke, downstream coking plants are adopting a cautious procurement strategy, mainly purchasing on an as-needed basis. Regarding traders, their speculative enthusiasm remains low, and there is a heavy sentiment of waiting on the sidelines. Overall demand for coking coal is on the weaker side. Therefore, in the short term, despite strong macroeconomic policy expectations, overall demand remains weak. Thus, it is expected that coking coal prices will continue to trend stably but on the weaker side.