SMM Daily: Coking coal prices are still expected to decline, coking coal market remains stable

On the supply side, the supply from the upstream coal mines is stable, with most mines focusing on safe and stable production. Overall, the supply side is stable. On the demand side, downstream coking enterprises have a weak purchasing intention, mainly purchasing on demand. Furthermore, most coking enterprises are still generally operating at a loss and have strong demands for lower raw material prices. Therefore, it is expected that coking coal prices will continue to operate stably but weakly in the short term.