Futures Market Fluctuates Narrowly, Coke Prices Seen Weakening Amid Stable Supply, Subdued Demand

[SMM Daily Commentary: Futures Market Experiences Narrow Range Fluctuations, Coke Prices Tend to Weaken Amid Stability]

Today's futures market saw narrow range fluctuations, with a subdued trading atmosphere in the spot market. On the demand side, coke plant operating rates remained stable, but due to weakened demand from downstream steel mills, coke plants have become significantly more cautious in raw material procurement, focusing mainly on replenishing rigid demand inventories. Traders are adopting a wait-and-see attitude, leading to a high number of failed online auctions. Consequently, with limited changes in the supply side of coking coal, expectations for a decrease in demand for coking coal are strong, and prices of coking coal are expected to remain stable with a slight downward trend in the short term.