[SMM Daily] Coke Market May Fluctuate Downward Amid Transportation Decline During Chinese New Year

[SMM Daily Review on Coal and Coke]

In terms of supply, coke enterprises operated normally, but market transportation capacity declined during the Chinese New Year, leading to average shipments from coke enterprises and an accumulation of coke inventory for most of them. On the demand side, affected by the decline in transportation capacity, coke deliveries to steel mills were hindered, causing a slight decrease in coke inventory at some steel mills. However, steel mills mainly purchased coke as needed, and the end-use market showed weak performance. Steel mills still showed intentions to suppress coke prices. In summary, coke cost support is weak, and market expectations remain pessimistic. In the short term, the coke market may fluctuate downward.