【SMM Daily Commentary: Main Coking Coal Prices Edge Down, Cost Support for Coke Weakens】

Today, coking coal futures fluctuated on the stronger side, while spot market transactions remained sluggish. On the demand side, the market sentiment remains pessimistic due to the continuous decline in the terminal steel market. Coupled with the expectation of 2-3 more rounds of price cuts for coke, this has led to cautious purchasing by coking plants and a notable weakening in demand for coking coal. With a slight increase in supply and a heavy bearish sentiment in the market, there is still some downside potential for coking coal prices. In the short term, coking coal prices are expected to continue their weak and volatile trend.