"Multiple varieties of limit-down" reappear, is the anticipated market to resist 'inward competition' coming to an end?

Before, the sharp increase in coking coal prices was mainly due to the expectation of a contraction in coking coal supply caused by the "anti-insular" policy implemented in July, and the rise in prices stimulated downstream replenishment, significantly easing the pressure on upstream coal mine inventories. However, the short-term excess supply of coking coal has not changed. For the future market, the rebound in coking coal prices driven by the "anti-insular" expectation has temporarily come to an end. Next, the market will gradually return to fundamentals, and prices may continue to decline, and there is a possibility that the 2601 contract may fall below 1000 yuan/ton. However, considering the continued advancement of the "anti-insular" policy, the probability of prices falling below the low point of early June is not high.