End-of-Day Market Summary PHCC – August 14, 2025

End-of-Day Market Summary – August 14, 2025

DCE Hit Hard on Regulation News – DCE Jan came close to limit down, closing at RMB 1,214 after new exchange regulations were announced, erasing recent bullish momentum.

Steel Weakness Weighs on Sentiment – Chinese steel prices continue to lag, adding to the bearish tone and undermining fundamentals.

Paper Market Pulls Back from Highs – TSI Sep corrected from 200 to 195, mirroring the retreat in sentiment.

GYC Sellers Still Struggling – Holders of GYC positions remain unable to sell at FOB index levels, with Chinese southern end users only willing to pay up to $200 CFR for northern port stock only when DCE went limit up, and northern mills capped near $190 CFR. These numbers net back to around $185 FOB, making BHP’s $197.10 FOB deal look increasingly stretched especially when DCE went almost limit down today.

Tone: Bearish drift, as sentiment turns cautious and FOB benchmarks struggle to find willing buyers at recent highs.