End-of-Day Market Summary PHCC – 8 July 2025:
- Met Coal Junkie
- Jul 8
- 1 min read
End-of-Day Market Summary – 8 July 2025:
Glimmer of lift – FOB market tests its floor as Chinese bullishness stirs opportunistic demand.
🔹 Oaky North Offers Lower to $177–178 FOB
August and prompt cargoes offered down to $177–178 FOB, testing levels not seen since the last resell cycle.
A JKT end user reportedly seeking PLV again, suggesting early signs of opportunistic demand revival at these levels.
🔹 Chinese PLV Netbacks Align with Aus Offers
Chinese PLV netbacks near $178 FOB, making Aussie PLV more appealing, especially for non-Chinese buyers.
As a result, upside potential re-emerges if resell pressure slows and demand normalizes.
🔹 China Domestic Bullishness Spreads
Physical spot prices across China firmed, with sentiment boosted by stable production and steady procurement.
Coke price hike expected next week, offering further support to coking coal values.
🔹 Tangshan Pollution Measures Have Limited Effect
Short-term environmental curbs have not significantly curtailed pig iron output, allowing bullish sentiment to hold.
Traders now watching for follow-through demand and coke market response for firmer conviction.
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