SMM Daily: Coke Futures Fluctuate, 6th Price Hike Looms; Coking Coal Stays Steady on Supply Boost, Cautious Demand

[SMM Daily Commentary: Futures Market Experiences Stronger Fluctuations; Sixth Round of Coke Price Increase to Take Effect Tomorrow]

On the supply side, recently, some coal mines have resumed production, leading to a slight increase in coking coal supply. In terms of demand, despite the continuous rise in coke prices, the profits of coke enterprises have improved only marginally, resulting in no significant increase in operating rates, and limited growth in downstream demand for coking coal. Overall, the fundamentals of coking coal remain stable. For traders, due to significant uncertainty in the subsequent market, some traders have begun actively shipping out their inventories. However, downstream coke enterprises and steel mills are adopting a cautious approach to procurement, leading to average overall shipments. Therefore, it is expected that coking coal prices will continue to remain stable in the short term.