【SMM Daily Comment: Futures Market Surges Substantially, Coke Spot Trading Remains Acceptable】

On the supply side, coal mine supply has tightened slightly under the situation of tightened safety inspections. On the demand side, most downstream coke enterprises have basically completed their rigid demand for replenishing inventory. In addition, the recent sharp increase in coal prices has restrained demand to a certain extent. In the follow-up, although there is still an expectation of price increase for coke and strong bullish sentiment for coking coal, considering the profitability of downstream coking plants, it will be difficult for coking coal prices to continue to rise. Some traders have begun to cash in their profits. Therefore, it is expected that coking coal prices will remain stable.