SMM Daily Review: Coking coal trading remains weak, while coke prices hold steady

On the demand side, coking enterprises' demand continued to weaken today. Although the main coking coal prices continued to fall today, which somewhat restored the profitability of coking plants, it is still difficult to make up for the losses of coking enterprises. In addition, downstream demand is also weak, leading to poor purchasing enthusiasm from coking enterprises and a majority of online auctions being unsuccessful. Coal washing plants and traders have a pessimistic outlook, adding to the overall bearish sentiment in the market. Looking ahead, downstream coking plants continue to suffer losses, which still fuels strong demand for lower coking coal prices, and it is expected that coking coal prices will continue to operate weakly in the short term.