SMM Daily: Coking Coal Futures Decline with Stable Spot Prices and Outlook

[SMM Daily Review: Coking Coal and Coke Futures Fluctuated Downward, Coke Prices Remained Stable]

Today, coking coal futures continued to fluctuate downward, while spot market transactions remained stable. Supply side, coal mine production was stable, and overall coking coal supply remained steady. Demand side, although some downstream coke plants began pre-holiday stockpiling, the overall pace was relatively slow, with limited demand growth. The fundamentals of coking coal continued to fluctuate downward. However, considering the impact of recent favourable macro factors and the fact that coking coal prices have already reached the bottom, coking coal prices are expected to remain stable in the short term.