SMM Daily: Coke Market Stable with Weak Trend Amid Eighth Price Cut

[SMM Daily Review on Coal and Coke]

In terms of supply, the eighth round of coke price cuts has been implemented, further squeezing the profits of coke enterprises. Some coke producers have been affected in their production, but with relatively high inventories, they are primarily focused on active shipments. On the demand side, the recovery of end-use demand has fallen short of market expectations. Steel mills have resumed production at a moderate pace, and coke inventories at some steel mills remain at reasonable levels, leading to purchasing as needed. In summary, steel prices have declined, with resistance transmitted to the raw material side. Additionally, with no large-scale resumption of production by steel mills and limited rigid demand for coke, the coke market is expected to remain stable with a weak trend after the eighth round of price cuts.