SMM Daily: Coke Price Cuts, Sluggish Demand, But Central Meeting Brings Hope

[SMM Daily Review: Fourth Round of Coke Price Cuts Implemented, Central Meeting Releases Favourable Macro Front]

Today, coking coal futures fluctuated downward, and the spot market saw sluggish transactions. In terms of supply, coking coal supply remained ample. Demand side, traders exhibited a strong wait-and-see sentiment, and coking coal demand continued to be sluggish. Looking ahead, the persistent weakness in coking coal futures has significantly dampened market sentiment. However, today's central meeting released favourable news, which may boost market confidence. Nonetheless, in the absence of significant improvements in fundamentals, coking coal is expected to remain relatively stable with a weak trend in the short term.