[SMM Daily Commentary: Futures Market Fell Significantly, Spot Market Remained Stable]

Today, the futures market of coking coal fell significantly, which affected the spot market, making transactions sluggish. Traders' speculative demand was obviously suppressed, and coking plants became more cautious and cautious about their procurement needs. Looking ahead, as the steel consumption season wanes, market pessimism has clearly increased. Although coking companies attempted to raise prices for coke last week, downstream steel mills are strongly resistant, and the short-term price of coking coal will remain weak and stable due to the expectation of the seasonally weak demand.