SMM

[SMM Daily Review on Coal and Coke] In terms of supply, coke enterprises slightly reduced their operating rates but maintained relatively high levels, ensuring sufficient coke supply. Additionally, due to passive procurement from downstream, some coke enterprises experienced a significant accumulation of inventory. On the demand side, end-use demand recovered slowly and remained in the verification phase, with limited growth in pig iron production. Steel mills primarily consumed their own coke inventory. In summary, after the ninth round of price cuts was implemented, coke supply remained relatively ample, and the coke market is expected to operate stable with a weak trend this week.