Coking Coal Futures Fluctuate Upward Amid Mixed Market Outlook

[SMM Daily Review: Coking Coal Futures Fluctuate Upward, Coking Plants Ship Normally]

Today, coking coal futures fluctuated upward, and market sentiment improved. With the rebound in the futures market today, traders' sentiment improved somewhat, but a wait-and-see attitude still prevailed. Downstream coking enterprises generally restock as needed. Looking ahead, due to poor expectations for end-use steel consumption, there is still an expectation for a reduction in coke prices. Additionally, as the profits of coking enterprises shrink, their willingness to cut production increases, and subsequent raw material procurement may continue to weaken. Therefore, short-term demand for coking coal is unlikely to improve, and it is expected to continue fluctuating downward.