End-of-Day Market Summary PHCC – August 13, 2025

End-of-Day Market Summary – August 13, 2025

Tone: Cautious, with physical FOB levels testing the upper bound of buyer tolerance and paper sentiment showing signs of fatigue.

BHP’s GYC Sale Meets Expectations but Tests Market Appetite – BHP sold a GYC cargo at $197.10 FOB, in line with earlier forecasts but viewed by many as stretched. Chinese buyers are steering clear at this level, while ex-China buyers are still tallying available tonnage.

Weather Adds Potential Supply Risk, but No Panic Yet – Heavy rains in New South Wales have disrupted production, potentially tightening Illawarra supply, though end users have yet to engage in panic buying.

DCE Pullback Tempers Sentiment – Earlier in the session, DCE Jan slipped below RMB 1,250, down nearly RMB 80 from the recent peak of RMB 1,325, as domestic coking coal prices struggled to keep pace.

Coke Market Likely Steady After Sixth Increase – China’s sixth round of coke price hikes has concluded, with expectations of stabilisation as rebar prices remain under pressure from rising inventories.