SMM Daily: Coking coal supply gradually returning to normal, Hebei steel mills initiate new round of coke price reduction

Today's market rumors suggest that the significant production restrictions on coking coal in Shanxi were a misunderstanding, and inspection scale has greatly reduced, leading to a sharp decline in coke futures. As for the coking coal market, the supply side is gradually returning to normal with the end of the impact of snowfall. However, downstream coking and steel enterprises are currently suffering from severe losses, leading to weaker demand for replenishing inventory. In addition, with the expectation of a fourth round of price reductions for coke, coking enterprises are also slowing down their procurement pace, resulting in overall weak demand. It is expected that the coking coal market will continue to run with a stable and slightly weaker trend.