SMM

[SMM Daily Review on Coal and Coke] In terms of supply, coke enterprises maintain high operating rates, ensuring sufficient coke supply. Additionally, downstream buyers are passively purchasing, leading to inventory accumulation at some coke enterprises and sluggish sales. On the demand side, end-use demand is recovering slowly, falling short of expectations. Pig iron production is increasing at a slow pace, and steel mills primarily purchase coke as needed to further suppress coke prices. In summary, the short-term oversupply of coke is unlikely to improve, and the coke market is operating stably with a weak trend. A tenth round of price cuts may occur next week.