[SMM Daily Commentary: Futures Market Experiences Narrow Range Fluctuations, Coke Prices Still Anticipated to Decline]

Today, the coking coal futures market experienced relatively strong fluctuations, yet transactions in the spot market remained sluggish. Due to the lingering expectation of further price reductions in downstream coke, which may see its third round of price cuts this week, downstream coke enterprises are generally adopting a wait-and-see attitude, resulting in an overall weak demand for coking coal. On the supply side, as coal mines primarily operate normally, some have seen slight production increases, while a small portion of mines are facing certain inventory pressures. In general, coking coal prices are expected to remain weak in the short term.