[SMM Daily Commentary: Futures Market Fluctuates Downwards; Coke Enterprises Initiate Second Round of Price Hikes]
On the supply side, most coal mines are operating normally, and the supply of coking coal remains stable. On the demand side, coke enterprises today initiated the second round of price hikes for coke, further boosting bullish sentiment in the market. Trade speculation demand has increased, while end-users continue to procure on an as-needed basis. In the short term, although there has been no significant improvement in the fundamentals of coking coal, it is expected that coking coal prices will remain stable with a slight upward trend, driven by rising downstream coke prices.
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