According to SMM, the supply side of the coke market has been affected by the backward production capacity closure in Shanxi, resulting in a significant decrease in coke production. However, downstream demand has declined, and coke supply and demand are both weak, and inventory is maintained at a low level. On the demand side, recent macro policy support has boosted steel prices, but steel mills are still in a loss-making state, and blast furnace maintenance is still increasing, weakening coke demand.

Overall, steel mills still expect a price cut for coke, but the reduction in coking coal prices is relatively slow and some coking enterprises in some regions are still limiting production. The market is mainly in a wait-and-see attitude, and the coke market may be temporarily stable in the short term.