【SMM Daily Comment: The Second Round of Coke Price Reduction Hits the Market, Bearish Sentiment Further Intensifies】

Coking coal futures are showing a strong trend of volatility, and the spot market is performing average. Following the launch of the second round of coke price increase and reduction, downstream coking plant purchases have significantly weakened, online auction transactions are few, and some regions and coal types have seen a small decline. Looking ahead, due to the recent weak performance of steel prices, the overall market sentiment is poor, coupled with expectations of further coke price reduction. Therefore, coking coal prices are likely to continue to be stable but weak.