[SMM Daily Commentary: Futures Market Experiences Narrow Range Volatility; Third Round of Coke Price Reduction to Take Effect on Saturday]

In terms of supply, recent continuous rainfall in some major producing areas has somewhat impacted the supply of coking coal, yet the overall supply remains at a high level. On the demand side, downstream coke enterprises have noticeably increased their wait-and-see attitude, resulting in sluggish online auction transactions. Coupled with gradually increasing coal mine inventory pressure in some regions, the fundamental contradictions in the coking coal market will gradually emerge in the short term, leading to a relatively weak performance in coking coal prices.