SMM Daily: Snowfall may affect coal enterprise shipments, downstream steel demand is weak

On the supply side, the Shanxi region experienced heavy snowfall today, and the transportation of coking coal may be affected in the coming days. This could lead to a certain degree of backlog in coking coal enterprise warehouses. On the demand side, downstream coking and steel enterprises are experiencing poor profitability and low production enthusiasm. The operating rate of coking plants is not high, and overall coking coal demand is weak. Therefore, in the short term, coking coal prices may remain weak.