SMM Daily: Weak supply and demand fundamentals for coking coal, steady coking coal prices.

On the supply side, with the expectation of tight coking coal supply, coking coal supply has remained stable. On the demand side, downstream coking enterprises continue to operate at a loss, leading to a significant decrease in purchasing intentions, mainly relying on digesting their own inventories, resulting in an overall demand deviation. Overall, coking enterprises have a strong demand for lower coking coal prices, but due to safety inspections and other reasons, the expectation of tight coking coal supply has kept coking coal prices firm. Therefore, it is expected that coking coal prices will continue to operate weakly steady next week.