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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

Quick Perspective: Holding the Line at 220: Supply Optimism Meets Weather Risk PLV 220 FOB remains broadly balanced for now, until Peabody, Illawarra and BHP resumes meaningful selling. On the demand side, several end-users are struggling to digest >230 CFR levels for PHCC, though near-term relief may emerge as new cargoes are fixed with slightly lower freight. The backwardated paper curve is already pricing in post-longwall supply normalization from BHP and Illawarra, as wel

Snapshot: BEIJING/SINGAPORE, Dec 24 (Reuters) – The world’s largest iron ore supplier, Rio Tinto RIO.AX, RIO.L, plans to replace the index used for settlement for shipments to China in January and February, according to a client notice reviewed by Reuters and a trader with knowledge of the matter. The Australian miner sent emails to Chinese clients notifying them that Fastmarkets MB’s iron ore indices will replace Platts indices for settlement of iron ore shipments in the fir

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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

GYC trades near 214 FOB

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

Multiple GYC-only buyers are emerging and lack of selling indications from miners are supporting the FOB market which has clearly decoupled from the Chinese sentiment. It is a case of the Chinese market being irrelevant now.

Quick Perspective: TSI Jan is trading at the upper band near 209, following today’s 206.51 FOB GYC trade, but is likely to meet resistance shortly. The opportunistic 210 FOB China PHCC offers amid rapidly falling spot physical prices in domestic China should act as a natural brake on further PLV FOB gains.

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.

A U.S. official told CBS News on Tuesday that Ukraine's government had "agreed to a peace deal" brokered by the Trump administration to stop Russia's nearly four-year assault. The American official and Ukraine's national security adviser Rustem Umerov said a common understanding on a proposal had been reached, with details still to be worked out. Umerov voiced optimism that Ukrainian President Volodymyr Zelenskyy could travel to Washington before the end of November to finali

FOB market has broken above $200, supported by the emergence of ex-India demand. Fresh SEA buying interest for 1–2 PMX of GYC is now competing directly with the two traders already holding GYC position cargoes — on top of India’s ongoing GYC requirements. With demand stacking up against limited December/January GYC availability, the market is now positioned to test the $205–210 FOB range in the near term.

End-of-Week Market Summary – November 17–21, 2025 Tone: Supported but vulnerable – FOB holds firm on tightening trader supply and seasonal risks, even as China’s futures-led correction tempers sentiment. FOB PHCC Holds $195–200 Range: Traders’ inventories are thinning out, helping maintain the $195–200 FOB band. The GYC trade at $200.10 FOB sat at the high end of valuations, but the buyer’s earlier $196+ cargo brings its average closer to ~$198 FOB, making the purchase logica

Quick Perspective Market continues to trade within a 195–200 FOB band, but the drivers have shifted. Earlier on, support came mainly from firm Chinese PHCC values. However, with DCE softening, arb-based cargoes have turned competitive again — illustrated by the 205 CFR China trade from an arb trader to an end user. As highlighted before, these arb cargoes are limited in volume, and the repeatability of 205 CFR is highly questionable from the seller side. Today, support for th