End-of-Day Market Summary PHCC – April 23, 2025

Despite bearish signals from mine restarts, the market remains well supported by demand and delayed supply recovery, keeping overall tone steady to slightly tight. Watch for how quickly spot volumes reappear and whether Indian buying persists at current levels.

• BHP Sold to Vitol June 1–10 Panamax GYC at $192.20 FOB: BHP concluded a trade for early June Panamax loading at $192.20 FOB, a level broadly in line with market expectations, indicating steady sentiment.

• Appin Mine Restarts Longwall Early: Appin Mine has resumed longwall production ahead of schedule, surprising the market with a quicker-than-expected restart. However, the impact on immediate spot availability remains limited.

• Anglo Re-entry Begins, Timeline Unclear: Anglo American has initiated re-entry into Moranbah North, but the timeline for longwall production restart remains uncertain, keeping supply-side risks in play.

• Spot Supply Lag Despite Mine Restarts: While mines are resuming output, spot cargoes are not immediately surfacing, limiting any bearish supply shock in the short term.

• Market Supported by Steady Demand: Strong Indian and non-Indian demand continues to support market levels, especially amid relatively tight fundamentals and cautious sentiment.