SMM Daily Review: Coke Market Faces Downward Fluctuation Amid High Supply and Weak Demand

[SMM Daily Review on Coal and Coke]

In terms of supply, after the tenth round of coke price cuts was implemented, most coke enterprises fell into losses, and the operating rates of some coke enterprises declined. However, coke supply remained at a high level, with significant sales pressure, and the inventory buildup of coke is unlikely to change in the short term. On the demand side, steel mill profitability was average, with no improvement in demand performance. Pig iron production declined slowly, daily coke consumption by steel mills decreased, and purchasing as needed became the main approach. In summary, the coke market may continue to fluctuate downward in the short term.