SMM: Coke Futures Waver as Steel Mills Initiate 8th Price Cut, Weak Fundamentals Persist

[SMM Daily Commentary: Futures Market Experiences Weak Oscillation; Steel Mills Initiate the Eighth Round of Coke Price Cuts]

From a fundamental perspective, the supply of coking coal continues to operate in a relatively loose pattern. On the demand side, steel mills today proposed the eighth round of coke price cuts, further suppressing the demand from downstream coking plants and traders, with a notable increase in wait-and-see sentiments. End-user coke enterprises are cautiously procuring as needed, while traders are predominantly in a wait-and-see mode, leading to a significant increase in unsold lots during online auctions. Therefore, on the whole, the fundamentals of coking coal will remain weak, and its prices are expected to continue their weak oscillation in the short term.