End-of-Day Market Summary – July 11, 2025

End-of-Day Market Summary PHCC – July 11, 2025

Firming Support – Market holds ground with potential PLV bid interest outside India and China’s strength pushing Tier 2 prices up.

🔹 Oaky North Offer on Pause After Dipping Below $177 FOB

Sellers paused offering Oaky North following price cuts below $177 FOB.

Rumors circulate that prompt India-bound Oaky North cargoes may have been sold, but no firm confirmation yet.

Market sees this pause as tactical, potentially to reset expectations or confirm trade execution.

🔹 Dexin’s Aug BHP PLV Cargo in the Market via Winsway at $180 FOB

Reported resale offer by Winsway of Dexin's cargo still unconfirmed.

Reflects a cautious but reawakening demand for branded PLV cargoes outside India.

🔹 Chinese PLV Above $190 FOB China – Not Competitive

Although some buying interest is surfacing outside India, Chinese PLV offers above $190 FOB China are not finding traction.

Highlights continued disconnect between branded FOB Australia and FOB China values.

🔹 China Leads with DCE Above RMB 900 and Strong Spot Physical

DCE Sep futures remain above RMB 900.

Spot physical prices in China are now catching up, reinforcing the bullish momentum.

One emerging consensus: Tier 1 (e.g., Saraji, Goonyella) and Tier 2 (e.g., Conuma, Daunia) cargoes may see narrowing relativity, as Chinese support levels lift Tier 2 valuations.