SMM

[SMM Daily Review on Coal and Coke] In terms of supply, coke enterprises maintained high operating rates, ensuring ample coke supply. The short-term oversupply of coke remains difficult to resolve. On the demand side, end-use demand recovered slowly, with even negative feedback logic emerging, leading to insufficient market confidence. Moreover, pig iron production decreased instead of increasing, reducing steel mills' demand for coke. In summary, coke supply remained abundant, and some steel mills have already proposed the tenth round of price cuts. This week, the coke market fluctuated downward.