SMM Daily: Coke Coal Futures Drop Sharply, Spot Coke Prices Steady

SMM Daily Review: Coking Coal Futures Plunge Sharply, Coke Spot Prices Remain Stable

Today, coking coal futures plunged sharply, and market bearish sentiment intensified again. Fundamentally, coking coal continued to exhibit a relatively loose supply pattern. Downstream coke enterprises generally purchased as needed, traders showed low speculative enthusiasm, and downstream demand remained weak. Looking ahead, the short-term supply and demand fundamentals of coking coal are unlikely to improve, but with stronger cost support, coking coal prices are expected to gradually stabilize.