SMM Daily: Coking coal prices continue to fall, steel mills initiate fifth round of coke price reductions

On the demand side, due to the downstream steel mills initiating the fifth round of price reductions for coke, coking enterprises' pessimism has intensified, and purchasing enthusiasm has further decreased, leading to a further weakening of coking coal demand. Today, coking coal prices in many places have been significantly lowered, and market sentiment is bearish. In the short term, downstream coke prices will continue to weaken, which will put pressure on coking coal prices, and coking coal prices may continue to weaken.