Coking Coal and Coke Futures Fluctuate Upward, But Short-Term Downturn Forecast

[SMM Daily Review: Coking Coal and Coke Futures Fluctuate Upward, Spot Prices Remain Stable]

Today, coking coal futures fluctuated upward, and bearish market sentiment eased to some extent. In terms of supply, coal mine operating rates remained high, and coking coal inventory pressure was significant, keeping overall supply ample. On the demand side, downstream coke producers mostly purchase as needed, while traders are cautious in their purchases, with little improvement in downstream demand. Additionally, the expectation of a decline in downstream coke prices is gradually intensifying. Therefore, coking coal prices are expected to continue fluctuating downward in the short term.