Coke Futures Fluctuate Upwards Amid Macro Positives; First Price Hike Successful, But Market Remains Cautious

[SMM Daily Commentary: Macro Positives Drive Coke Futures to Fluctuate and Rise, Coke's First Round of Price Increase Successfully Implemented]

On the supply side, most coal mines are operating normally, ensuring stable supplies of coking coal. In terms of demand, the operating rate of downstream coke enterprises remains low, and they are still suffering from significant losses, resulting in low enthusiasm for procurement. While there are expectations for coke prices to rise to some extent, due to the relatively weak consumption of end-user steel products, traders remain cautious and market transactions are sluggish. Therefore, it is expected that the price of coking coal will continue to remain stable in the short term.