Coking Coal Futures Volatile, Steel Mills Initiate Second Price Cut for Coke

[SMM Daily Commentary: Futures Market Experiences Moderately Strong Volatility; Steel Mills Initiate Second Round of Coke Price Reduction]

Today, coking coal futures experienced volatile upside movements, with market pessimism easing somewhat. On the demand side, although coke enterprises are currently profitable and operating at high rates, the long-term demand outlook from end-user steel mills remains unfavorable, leading to continued expectations of coke price reductions. Coke enterprises have generally adopted a cautious procurement stance, and traders are mainly in a wait-and-see mode. Looking ahead, due to the loosening trend in the supply of coking coal and the widespread cautiousness among coke enterprises in procurement, it is expected that coking coal prices will continue to trend steadily weaker in the short term.