SMM Daily: Coke Coal Futures Fluctuate Up, But Outlook Remains Bearish

[SMM Daily Review: Futures Market Fluctuates Upward, Coking Coal Market Remains Stable]

Today, coking coal futures fluctuated upward, and spot market transactions remained stable, with traders' sentiment improving somewhat. However, due to significant supply pressure on the fundamentals of coking coal and the short-term difficulty in improving downstream demand, traders are still mainly in a wait-and-see mode. After the third round of price reductions, the profits of end-use coking plants have decreased significantly, and subsequent demand is expected to decline further. Therefore, in the short term, coking coal prices are expected to continue fluctuating downward.