Coking Coal Futures Fluctuate Downward Amid Stable Spot Market Transactions

[SMM Daily Review: Coking Coal Futures Fluctuate Downward, Spot Market Transactions Remain Stable]

Today, coking coal futures fluctuated widely, and spot market transactions were generally average. In terms of supply, coal mines continued stable production, and coking coal supply remained ample. Demand side, downstream coke enterprises are expected to reduce operating rates due to deteriorating profits. Additionally, traders are generally adopting a wait-and-see approach, which may lead to a contraction in demand. Therefore, overall, the short-term fundamentals of coking coal are expected to continue fluctuating downward, and coking coal prices will remain on a downward trend.