Daily Review: Coke Market Remains Stable but Faces Inventory Accumulation and Potential Downward Fluctuation Post-Holiday

[SMM Daily Review on Coal and Coke]

During the Chinese New Year, the coke market remained stable. In terms of supply, coke enterprises maintained stable operations, continuing pre-holiday production levels. However, due to low logistics efficiency during the holiday, shipments were hindered, leading to an accumulation of coke inventory at coke enterprises. On the demand side, steel mills maintained stable production rhythms and had sufficient pre-holiday restocking, primarily purchasing coke as needed. Overall, coke supply remains relatively ample, and with the possibility of further declines in coking coal prices, cost support is insufficient. It is expected that the coke market may fluctuate downward in the first week after the holiday.