Futures Market Narrowly Fluctuates, Coke Prices Steady Amid Weak Demand Outlook

【SMM Daily Commentary: Futures Market Experiences Narrow Range Fluctuations; Coke Prices Remain Stable】

Today's futures market witnessed weak fluctuations, while the spot market remained sluggish in trading. On the demand side, although the operating rate of downstream coke enterprises increased slightly, their procurement remained generally cautious due to slim profit margins. Traders, impacted by yesterday's sharp decline in futures prices, have taken a strong wait-and-see approach, leading to a notable reduction in speculative demand for coking coal. Most online auctions ended in failed bids. Consequently, the overall demand for coking coal has weakened, and prices are expected to trend downwards with stability in the short term.