SMM Daily Coke Market Comment and Forecast (May 9)

SHANGHAI, May 9 (SMM) – Coking coal: Coal mines were under mounting pressure to sell amid abundant supply and poor demand. Coking coal prices continued to fall.

Coke: Coking plants remained keen on producing due to lower coking coal costs, but their shipments were poor, causing their inventories to build up. Purchases by steel mills were poor.

To sum up, the lack of cost support, ample supply and slack demand will leave coke prices vulnerable to further drop.