【SMM Daily Comment: Futures Market Falls Sharply, Spot Market Remains Weakly Bearish】

Today, due to macroeconomic news, the futures market for coking coal has seen a sharp decline. The spot market has also seen sluggish transactions influenced by the futures market decline. In terms of supply, due to safety inspections and other reasons, coal mines have a slower pace of resuming production, with overall supply remaining largely unchanged. On the demand side, downstream coking plants are generally slightly loss-making, with the majority focusing on rigid demand procurement, and the overall market sentiment remains cautious. In the short term, the price of coking coal is expected to remain stable with a weak trend.