Live Updates

End of Day PHCC Market Summary February 2 Tone: Momentum stalling but not broken - The rally is losing sharpness as price validation disappoints, yet supply visibility remains thin • Lotus Sells to Jindal Near 253 FOB Lotus concluded a sale to Jindal around 253 FOB, a level that fell short of broader market expectations. The final price surprised many given the preceding bullish tone and has introduced hesitation into near term price thinking • TSI Stable with Mild Selling Pr

Quick Perspective: The market retains a clear path to test $255–260 FOB should primary supply remain constrained. No further PMV cargoes from BHP are visible at this stage, while alternative suppliers remain quiet. Incremental PMV demand from India is expected to surface over the next two weeks, adding pressure to an already lagged demand profile. With cumulative deferred buying now exceeding visible primary supply, the downside appears well defended around $250 FOB, leaving

End-of-Day PHCC Market Summary – January 26-28 Tone: Rally pausing, not reversing – Momentum has cooled, but structural tightness keeps the upside case alive pending BHP’s next move. Unsold Peak Downs Weighs on Sentiment: An unsold Peak Downs parcel is tempering the rally sparked by recent Goonyella strength, introducing near-term hesitation at elevated levels. TSI Hesitates Below $250 Despite Strong Bids: TSI remains reluctant to break $252, even as PHCC bids around $252 sur

End-of-Day PHCC Market Summary – January 22 Tone: High print, low conviction – A strong physical sale has not translated into broader confidence, leaving the market cautious at elevated levels. TSI February Resists the $250 Level: Despite BHP selling GYC at $250.2 FOB, TSI February has failed to follow through to $250, signalling hesitation from paper participants and a lack of conviction at these heights. Sustainability Questioned: While the traded level was within market ex

End-of-Day PHCC Market Commentary – January 16 Tone: Calmer headlines, unresolved risk – Immediate fears eased, but the market is now refocusing on duration and magnitude of supply loss rather than isolated incidents. BHP Confirms No Roof Fall: BHP clarified that no roof fall has occurred, helping defuse one of the more alarming rumours circulating earlier in the week and taking some heat out of near-term panic. Rain Risk Shifts the Narrative: Attention has quickly shifted ba

End-of-Day PHCC Market Summary – January 14 Tone: Breakout confirmed, upside now the debate – The market has crossed a psychological threshold, and the conversation has decisively shifted from downside risk to upside timing. TSI February Touches $252, Then Pulls Back: TSI Feb surged to $252 before correcting to ~$245, effectively front-running a level the market broadly expected to reach sooner or later. The pullback was profit-taking, not rejection. Rainfall Impact Underesti

End-of-Day PHCC Market Summary – January 13 Tone: Tightening and nervy – Weather-led supply risk is turning from a headline into a physical constraint, while alternative supply options are failing to emerge. Australian Rains Begin to Bite: The impact of heavy rainfall across Australia is now being felt more tangibly. Disruptions are compounding what was already a sub-optimal production backdrop, particularly among tier-one producers. End Users Start to Worry: Mills running lo

End-of-Day PHCC Market Summary – January 12 Tone: Strategic bearish print, bullish setup  – The trade surprised on price, but the intent appears structural rather than directional. BHP Sells Peak Downs @ $226.5 FOB (Mid-Feb Laycan): BHP sold a mid-February Peak Downs cargo to Javelin at $226.5 FOB , below market expectations , which had been clustering closer to $230+. The level surprised many and immediately reframed near-term price thinking. Interpreted as Index-Anchoring S

End-of-Day PHCC Market Summary – January 8–11 Tone: Firm but patient – Market is tight and elevated, yet participants are deliberately waiting for clearer signals on supply response and downstream acceptance. BHP Still Absent, Buyers Not Chasing: BHP remains on the sidelines, but buyers are equally disciplined and not chasing higher levels. The standoff reinforces a tight yet stable market tone. Potential Supply from Glencore and Peabody: Market attention is shifting to possi

Daunia traded near 192 cfr China / 178 fob

End-of-Day PHCC Market Commentary – January 7 Tone: Bullish, but China-led futures enthusiasm has yet to fully transmit into Australian physical pricing BHP Remains Absent from the Market: BHP continues to show no visible sign of selling, reinforcing tight spot availability. Market expectation is building that $225 FOB could be the next traded level once a sale materialises. Indian Anti-Dumping Duties Support PHCC Acceptance: India’s anti-dumping duties on steel are allowing

Peak down resell from Indoensian end user

End-of-Day Market Commentary – January 5–6 Tone: Firm and balanced – Tight supply has anchored prices at a new equilibrium, with upside dependent on further disruptions rather than demand growth. Queensland Rains Cloud Production Outlook: Heavy January rainfall in Queensland is starting to affect mine operations and shipment reliability, keeping supply-side risks elevated. Year-End Selling Offsets Contango: At the same time, multiple miners will be active sellers as they rush

With proper blending, 220 FOB GYC will give a blended coal cost below 200 and coke below 300. 220 fob indo coke is near 320 landed with duties in India. ​ ​So is gyc undervalued now given the absence of miner selling indication?

Hay Point freight dropped drastically. Should PLV FOB and CFR India meet in the middle?

Anze offer up by 100 Yuan to 1600 ex-mine / 215 FOB Australia equivalent

PLV FOB INDEX 216.5 FOB. Just another $3.5 to 220?

Quick Perspective: PLV FOB shifts toward 220 amid absence of miner selling PLV FOB has repriced higher toward 220 as miner selling remains notably absent. The Indian market is now late to recognise the emerging supply crunch, with several end users still uncovered. Chinese re-loads remain uncompetitive once quality degradation is priced in, limiting their effectiveness as a ceiling to FOB values. Meanwhile, Chinese end users have also entered a restocking phase, driving China

PLV FOB remains firm with multiple PHCC buyers in India and Southeast Asia still uncovered. Branded miner supply is thin, and while Chinese reloads continue pushing hard to attract interest, their ability to satisfy regional demand is uneven. SEA buyers may consider these reloads, but Indian appetite for such tonnes is limited, leaving the market structurally short of GYC in the near term. With genuine demand still to be filled and limited miner-direct liquidity, the PLV FOB

Quick Perspective: PHCC pushes 205–210 FOB alongside a ~230 CFR India deal, within expectation . Soft Indian steel hasn’t translated into downside pressure yet as buyers remain uncovered for January, and traders' positions thin out. Until miners start offering more Jan tons, the market stays propped up.