[SMM Coking Coal and Coke Daily Briefing] Supply side, some coking plants have increased production enthusiasm due to smooth shipments and inventory reduction, while most coking plants maintain normal production and continue to focus on active shipments. Demand side, end-use consumption of finished products is in the off-season, with the price center shifting downward and steel mill profits declining. Additionally, as coke inventory at steel mills remains at medium to high levels, resistance to coke price hikes has intensified, and purchasing is mainly conducted as needed. In summary, the competition between coking plants and steel mills has intensified, and the coke market may stabilize temporarily next week.

The nickel market started the week under slight downward pressure, then rebounded significantly amid positive macro news and developments in the Indonesian market. The most-traded SHFE nickel contract (2602) closed at 148,010 yuan/mt on Friday, up 2.52% WoW, with a weekly high of 150,000 yuan/mt; the LME nickel 3M contract settled at $18,850/mt, gaining 4.07% over the week.