Coke Market Bears Reign as First Price Cut Takes Effect, Demand Slumps Amid Environmental Checks

[SMM Daily Commentary: Coke Fundamentals Remain Stable with First Round of Price Cut Implemented]

Today, the first round of price cuts for coke has been implemented, further intensifying the market's bearish sentiment. On the demand side, recently, due to factors such as environmental inspections, the operating rates of coke enterprises in various regions have seen significant declines. Coupled with the strong bearish sentiment in the market, coke enterprises have significantly reduced their purchases, and online auctions have mainly resulted in failed transactions. Overall, given the expectation of further price declines for downstream coke, coking coal prices continue to maintain a weaker trend.