Coking Coal Futures Plunge Amid Steady Mine Supply, Outlook Remains Weak

[SMM Daily Commentary: Black Metal Futures Plunge Sharply, Coke Prices Remain Stable]

On the supply side, coal mines are operating steadily, and the supply of coking coal has recovered to a relatively high level. In terms of downstream demand, due to the sharp decline in coking coal futures recently, market transactions have been relatively sluggish, and downstream coke enterprises and traders have once again become more cautious, leading to a higher number of failed online auctions. Looking ahead, as the supply of coking coal continues to be abundant and downstream coke enterprises sustain losses, the fundamental pressure on coking coal will persist, and coking coal prices are expected to remain weak.