SMM Daily: Online auction of coking coal continues to be sluggish, while coke prices remain stable

From the demand side, terminal demand expectations are difficult to improve, downstream coking enterprises continue to suffer losses, and the market is in a serious state of pessimism. Coking enterprises have sporadic purchases, and there are few transactions in online auctions. On the supply side, coal mine inventories continue to accumulate. Therefore, in the short term, there is still downward pressure on coking coal prices.