SMM Daily: Coke Market Faces Short-term Oversupply, Weak Trend Expected with Potential 10th Price Cut

[SMM Daily Review on Coal and Coke]

In terms of supply, coke enterprises maintain high operating rates, ensuring sufficient coke supply. Additionally, downstream buyers are purchasing passively, leading to inventory accumulation at some coke enterprises and sluggish sales. On the demand side, end-use demand is recovering slowly, falling short of expectations. Pig iron production is increasing at a slow pace, and steel mills are primarily purchasing coke as needed to further suppress coke prices. In summary, the short-term oversupply in the coke market is unlikely to improve, with the market expected to remain stable with a weak trend. A tenth round of price cuts may occur next week.