Coke Futures Narrowly Fluctuate Amid Fifth Price Cut, Coking Coal Prices Under Pressure

[SMM Daily Commentary: Coke Futures Experience Narrow Range Fluctuations as the Fifth Round of Price Reductions Takes Effect]

On the supply side, coal mine production remains stable, and the supply of coking coal continues to be ample. On the demand side, the fifth round of price reductions for coke has quickly materialized, leading to a significant widening of losses for coke enterprises and further dampening enthusiasm for raw material procurement. Looking ahead, the contradiction between supply and demand fundamentals in the coking coal market is gradually widening, with coal mine supply remaining stable while downstream coking plant demand is gradually declining. Consequently, coking coal prices continue to be under pressure, and it is expected that coking coal prices will maintain a downward trend with fluctuations in the short term.