Coking Coal Futures Slide, Spot Market Weakens Amid Losses for Downstream Plants

[SMM Daily Commentary: Futures Market Continues to Decline, Coke Fundamentals May Continue to Improve]

Today, coking coal futures experienced weaker fluctuations. In the spot market, market transactions have weakened significantly compared to previous days, with downstream coking plants generally focusing on procurement based on demand. Traders' wait-and-see attitude has intensified significantly, and their enthusiasm for procurement has declined markedly. Looking ahead, due to the continued losses of downstream coking enterprises, their willingness to purchase is expected to further decrease. Coupled with the fact that coking coal futures are still expected to remain weak, it is anticipated that the spot price of coking coal will continue to experience weaker fluctuations next week.