SMM

[SMM Daily Review on Coal and Coke] In terms of supply, coke enterprises' production remains stable for now, though some coke enterprises are facing severe inventory accumulation, leading to slight expectations for production cuts. However, overall coke inventory remains at a high level, and supply is relatively ample. On the demand side, steel prices are declining, most steel mill profits are poor, and the resumption of production is cautious. Pig iron output is increasing slowly, and steel mills mainly purchase coke as needed due to average consumption rates. In summary, coke prices may continue to fluctuate downward in the short term, and the ninth round of coke price cuts may occur tomorrow.