End-of-Day Market Summary PHCC – July 2, 2025

End-of-Day Market Summary – July 2, 2025

Bullish momentum returns as Chinese supply reform rumours and double PMV trades spark price recovery across paper and physical markets.

🔥 Double PMV Trades Spur Optimism

• M Resources sold 181 FOB to Rashmi.

• BHP followed with a 186.45 FOB sale to Vitol.

• These back-to-back trades lifted confidence and reset price expectations in the physical market, suggesting renewed appetite from Indian buyers.

  
  

📈 TSI July Surges Near 183

TSI paper reacted quickly, with July values rebounding to ~183. The twin PMV trades signaled firm demand and tightened availability—especially with traders holding limited positions.

📉 PLV–PMV Spread Narrows, Index Set for Upside

PRAs are expected to reflect stronger index prints, driven by the narrowing PLV–PMV spread and an upward shift in physical benchmarks.

📊 DCE Rebounds to RMB 850 on Supply Reform Talk

Chinese Sep DCE futures surged as supply reform rumours triggered short-covering. This resurgence reinforces bullish momentum in the broader coal complex, especially after recent consolidation.

🚢 Oaky North Re-emerges via Traders

Market chatter suggests traders are offering Oaky North again, but availability of Goonyella with more favorable branding and sentiment makes ON less appealing for now.

PS: The FOB bullishness today alignes with 1 July commentary and is within expectation.