SMM Daily: Market trading stagnant and transportation blocked during the Spring Festival, post-holiday coking coal prices expected to run weakly

During the Spring Festival, most coking coal enterprises and steel mills maintained the production and procurement holiday mentality before the Spring Festival. In terms of transportation, due to the Spring Festival holiday, the turnover efficiency has been reduced, and the shipment of coking coal has been hindered to some extent. Some coking coal enterprises have different degrees of inventory accumulation. On the demand side, as downstream construction sites have not yet resumed work, steel mills' finished product inventories have accumulated, coupled with the situation of steel mill profit losses not yet significantly improved, there is still a high probability of a 1-2 round decline in coking coal prices in the near future.