SHANGHAI, June 24 (SMM) - Coking coal market: Coke enterprises and steel mills reduced the demand for coking coal, hence coal mines basically had no new orders, coking coal inventories increased to varying degrees, and coking coal prices began to drop amid the online auctions.
Coke market：On the supply side, coke enterprises were less motivated to produce, and some coke enterprises reduced the production to varying degrees. In addition, the coke procurement by steel mills slowed down. The shipment was blocked and the inventories increased amid the wait-and-see sentiment. The supply of coke gradually became looser.
On the demand side, the inventories of steel increased amid the consumption off-season, hence some steel mills were less active about procurement and mainly purchased as needed.
Overall, the loss of coke enterprises further expanded, and the production were reduced to varying degrees. However, as the demand from steel mills was weak, inventories of some coke enterprises increased slightly. It is expected that the coke prices will fall slightly in the short term amid the decline in coking coal prices and the expected decline in coke prices.