[SMM Daily Commentary: Weak Terminal Consumption Expectations Continue; Coke Prices May Stabilize and Trend Downwards]
Today, coking coal futures experienced strong volatility, while spot market transactions were generally subdued. On the supply side, coal mine supplies from major producing areas remained stable. On the demand side, downstream coke enterprises primarily conducted purchases based on demand, while traders generally adopted a wait-and-see approach, leading to sluggish online auction transactions. Looking ahead, due to poor terminal consumption expectations, coke prices are still expected to decline. Therefore, it is anticipated that coking coal prices will continue to stabilize and trend downwards in the short term.
![[SMM Balanço Semanal de Materiais de Construção] Atmosfera de negociação do mercado melhora, liberação de demanda rígida fica aquém das expectativas](https://imgqn.smm.cn/usercenter/JdqON20251217171718.png)
