SMM Daily: Coke Coal Futures Plummet, Market Sentiment Turns More Pessimistic

【SMM Daily Review: Futures Market Plummets, Market Pessimism Intensifies Again】

Today, coking coal futures plummeted, and the market's wait-and-see sentiment intensified, leading to sluggish transactions in the spot market. In terms of supply, most mines are operating normally, and the supply of coking coal continues to be relaxed. On the demand side, although a few end-users have started restocking before the holiday, most downstream purchases remain cautious, primarily purchasing as needed. Therefore, the fundamentals of coking coal are expected to continue to be relatively relaxed in the short term. However, as cost support gradually strengthens, coking coal prices are expected to continue to operate stably but with a weakening trend in the short term.