SMM Daily Report: Coking coal prices remain stable, coke welcomes first round of price hikes

Today, coking coal prices remained stable. With the start of the first round of price hikes for coke, market bullish sentiment is gradually strengthening. On the supply side, due to the ongoing serious situation of safety inspections, the progress of coal mine resumption is relatively slow, and overall coking coal supply remains stable. On the demand side, although coke enterprises have initiated the first round of price hikes, it will still take some time for coking enterprises to resume production, so short-term coking coal demand is expected to remain stable. Therefore, the underlying fundamentals of coking coal are not expected to change significantly in the short term, and prices are expected to remain relatively strong amid expectations of coke price increases.