SMM Commentary: Coking Coal Futures Oscillate Narrowly, Prices Decline Slightly Amid Stable Supply

[SMM Daily Commentary: Futures Market Experiences Narrow Oscillations; Coking Coal Prices Decline Slightly in Some Regions]

Today, coking coal futures experienced narrow oscillations, and trading in the spot market was sluggish. On the supply side, coal mine production remained stable, resulting in a relatively abundant supply of coking coal. On the demand side, traders were predominantly on the sidelines, leading to subdued online auction trading activity. Although downstream coke enterprises maintained relatively high operating rates, they generally purchased on an as-needed basis due to expectations of further declines in coke prices. It is anticipated that coking coal prices will continue to trend steadily but weakly in the short term.