[SMM Daily Review: Futures Market Fluctuated Upward, Third Round of Coke Price Reduction Implemented]
Today, coking coal futures fluctuated upward, while the spot market saw weak transactions. Supply side, coal mine production remained stable, and coking coal supply was relatively ample. Today, the third round of coke price reduction was implemented, and market sentiment remained cautious with relatively sluggish transactions. Downstream coke enterprises mostly restocked as needed, with low enthusiasm for trade speculation. Looking ahead, due to the poor expected demand for end-use steel, coke prices are expected to continue to decline, and thus, in the short term, coking coal prices are expected to continue to fluctuate downward.
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