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: 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.

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.

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

Market View (Short-Term Outlook) The market is trading within a narrow 195–200 USD/t FOB range  in the near term. China:  Spot sentiment remains firm with a tightly balanced supply–demand picture. Domestic spot Shanxi PHCC is already trading at 210–220 USD/t FOB equivalent , but end users are reluctant to lift seaborne PLV above 195 FOB , staying anchored to long-term contracts. As a result, 195 FOB acts as a strong floor , while 200 FOB stands as a psychological resistance  

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