SMM Daily: Coking Coal Futures Decline Amid Stable Spot Market, Fundamentals Unlikely to Improve

[SMM Daily Review: Favourable Macro Front Drives Futures Up, Coke Spot Market Remains Stable]

Today, coking coal futures fluctuated downward, and the spot market sentiment was largely cautious. In terms of supply, coking coal supply remained ample. On the demand side, traders' sentiment was largely cautious, and coking coal demand continued to be sluggish. Due to environmental protection-driven production restrictions, the operating rate of downstream coke producers and steel mills may slightly decline. Consequently, the fundamentals of coking coal are unlikely to see significant improvement, and coking coal prices are expected to continue a stable yet weakening trend.