【SMM Daily Commentary: Futures Market Plunges, Market Sentiment Turns More Bearish】

Today, coking coal futures continued to plunge significantly, coupled with the reduction in coke prices yesterday, further deteriorating market sentiment. Trading in the spot market was sluggish, with downstream coking plants adopting a wait-and-see attitude and low willingness to purchase, leading to slight declines in coking coal prices in some regions. Looking ahead, due to the continued downturn in the end-user steel market and expectations of further coke price reductions, coking coal prices are expected to remain in a weak and volatile trend in the short term.