[SMM Daily Commentary: Second Round of Coke Price Reduction Implemented, Weak Performance of Coke Prices Continues]

Over the weekend, the second round of coke price reductions was fully implemented, further intensifying the bearish sentiment in the market. Coupled with the relatively loose fundamentals of coking coal supply, downstream coke enterprises have become cautious in procurement, traders are heavily in a wait-and-see mode, and prices of some coal types have continued to decline. Looking ahead, after the two rounds of price reductions, downstream coke enterprises have once again generally incurred small losses, dampening their enthusiasm for procurement and production. Additionally, as terminal steel consumption is unlikely to improve significantly in the short term, it is expected that coking coal prices will continue to oscillate weakly in the near future.