Coking Coal Market Steady Amid Rising Speculative Demand; Coke Prices Poised for Third Price Hike

[SMM Daily Commentary: Strong Bullish Sentiment in the Market, Coke Initiates the Third Round of Price Increase]

The coking coal market remained stable today. On the supply side, coal mine production remained stable, leading to relatively ample supplies of coking coal. On the demand side, downstream coke enterprises continued to operate at a relatively low level, with stable demand for replenishing coking coal inventories. In terms of traders, there has been a notable resurgence in speculative enthusiasm recently, with some traders starting to enter the market for purchases, indicating a recovery in speculative demand. Therefore, on the whole, the demand for coking coal has improved. However, due to the relatively loose supply side and the fact that it still takes time for the upstream prices to be transmitted to the downstream steel market, the coke prices are expected to continue a stable yet slightly upward trend in the short term.