【SMM Daily Commentary: The Fourth Round of Coke Price Increase Comes into Effect, and Downstream Steel Mills Have a Preference for Replenishing Inventories】

In terms of supply, there has been little change in coal mine production, coupled with the replenishment of downstream inventories in the previous period, the inventories of coal washing plants are generally low, so the pressure on the short-term supply side is not great. On the demand side, as the fourth round of coke price increase comes into effect, coke enterprises' profits have been restored, which is expected to further drive the demand for coal. Therefore, on the whole, coal prices are still expected to maintain a stable and strong trend.