[SMM Daily Commentary: Coke Futures Plummet, Market Sentiment Remains Strongly Bearish]

Affected by the sharp decline in coking coal futures, transactions in the spot market were sluggish today. Downstream coke enterprises and traders generally adopted a wait-and-see attitude. Looking ahead, downstream coke prices are still expected to fall, leading to generally cautious purchasing among coke enterprises. Coupled with the decline in molten iron production at downstream steel mills, coke enterprises are facing certain pressure in shipment, prompting some of them to slightly reduce their operating rates, further weakening the demand for coking coal. Therefore, it is expected that coking coal prices will remain weak in the short term.