SMM Daily: Coking Coal Futures Decline, Spot Market Sluggish, Prices Stable but Weakening

[SMM Daily Review: Futures Market Fluctuated Downward, Coke Prices Remained Stable with a Weakening Trend]

Today, coking coal futures fluctuated downward, and the spot market saw sluggish transactions. Supply side, coal mine production remained stable overall, continuing the recent relatively loose supply pattern. Demand side, with the decline in the futures market, spot market transactions turned cold again, with few online auction deals, and most traders adopted a wait-and-see approach. Downstream coke enterprises generally restocked as needed. The fundamentals of coking coal remained relatively loose, and in the short term, coking coal prices were expected to remain stable with a weakening trend.