SMM Commentary: Coke Futures Decline Amid Potential Third Price Cut; Coking Coal Market Weakens

[SMM Daily Commentary: Futures Market Declines with Volatility; Coke May Face Third Round of Price Reduction Next Week]

Today, coking coal futures experienced narrow volatility, with a sluggish trading sentiment in the spot market. On the supply side, coal mine production remained stable, resulting in a relatively abundant supply of coking coal. On the demand side, some steel mills proposed a third round of price reductions for coke today, further dampening the enthusiasm of coke enterprises for procurement. The market was generally in a wait-and-see mode, leading to a sluggish trading environment. Looking ahead, as expectations for a third round of price reductions for coke intensify, the coking coal market is expected to continue weakening. It is anticipated that coking coal prices will remain on a downward trend in the short term.