End-of-Day Market Summary PHCC – 7 July 2025

End-of-Day Market Summary – 7 July 2025:

Drifting with structural dislocation – Resell pressure lingers while divergence from benchmark specs reshapes sentiment.

🔹 Oaky North Offer Weakens Further

August laycan now offered at $179.5 FOB, prompt cargo at $178.5 FOB.

Market increasingly recognizes quality divergence between Oaky North and PLV benchmark (e.g., Saraji, Peak Downs), weakening its influence on index formation.

🔹 TSI August Paper Slips Again

TSI August paper dropped to $175, tracking weaker FOB sentiment.

Market remains thin and sensitive to further physical resell news.

🔹 Early August Illawarra PMV Cargo Emerges

A fresh Illawarra resale is making noise, suggesting more PMV tonnage in the market.

With PMV values still holding, the PLV–PMV spread narrows.

🔹 China Still Waiting on Coke Market Movement

Despite earlier expectations, no clear coke price uptick has materialized.

The market remains cautious, with sentiment supported by physical tightness but tempered by weak DCE performance.