Coke Futures Drop Amid Stable Supply, Cautious Demand; Outlook Remains Weak

[SMM Daily Commentary: Coke Futures Fluctuate Downwards as Coke Fundamentals Continue to Show Contradictions]

Today, coking coal futures experienced a downward trend with fluctuations. On the supply side, coal mine production remained stable, and the supply of coking coal remained unchanged. In terms of demand, downstream coke enterprises were cautious in procurement, traders mostly adopted a wait-and-see attitude, leading to a sluggish trading market for coking coal. Looking ahead, due to the expected further decline in coke prices and the continuous accumulation of contradictions in the fundamentals of supply and demand, coking coal prices face significant downward pressure. In the short term, coking coal prices will continue to fluctuate weakly.