SMM

[The Oversupply Situation Is Difficult to Improve, and Coke May Face the Tenth Round of Price Cuts Next Week] This week, coke inventories at coke enterprises accumulated again, while coke inventories at steel mills increased slightly. The profits of most coke enterprises remained at the break-even level, with production barely stable. However, downstream end-users showed average purchasing enthusiasm, and coke inventories at coke enterprises fluctuated at highs. This week, steel mill orders performed relatively well, with some mills making normal purchases. However, steel mills showed a strong willingness to seek profits upstream, primarily adopting a purchase-as-needed strategy to suppress coke prices. Moving forward, most coke enterprises are expected to maintain profitability, and even if losses occur, they remain within a tolerable range for coke enterprises. Overall production remains stable, but due to high inventories and sluggish sales, some coke enterprises may slightly reduce production. However, the end-use market for steel mills is expected to remain average, and their coke inventories are at safe levels. Next week, only a few steel mills may replenish inventories...