End-of-Day Market Summary PHCC – April 30, 2025
- Met Coal Junkie
- Apr 30
- 1 min read
End-of-Day Market Summary – April 30, 2025
The market is cautiously bullish, anchored by firm benchmarks and the inability of alternatives to undercut Australian PHCC meaningfully. Buyers are watching BHP’s next move for confirmation of direction.
Goonyella Trade Supports Market Sentiment: A GYC cargo traded at $214–215 CFR India (~$197 FOB netback), reinforcing bullish sentiment tied to recent Australian mine disruptions.
Alternative Supply Fails to Pressure Market: Initial expectations that Canadian supply would cap upside have proven limited:
Canadian HCC trades at $204 CFR India, with 2.75% duty adjustments lifting the price to ~$210 CFR or ~$193 FOB netback—still close to BHP’s last done of $192.2 FOB, suggesting repeatability.
Financing Concerns Over High CFR Levels: The $214–215 CFR GYC trade sparked market skepticism, with some suspecting implicit financing arrangements rather than a true spot clearing price.
Market Leaning Bullish: Despite some doubts, the combination of constrained alternative supply, firm Indian demand, and Australian supply risk means upside risks currently outweigh downside.
Comments