End-of-Day Market Summary PHCC – July 24, 2025

End-of-Day Market Summary – July 24, 2025

Tone: Euphoria Persists – But Platform Intervention Looms

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🔹 DCE Hits Limit-Up for Third Straight Day – But Not "Recognized"

DCE Sep surged to RMB 1,198.5, hitting limit-up for the third consecutive session.

However, the limit-up was not maintained for 5 minutes, which means:

The exchange does not officially recognize it as a limit-up session.

This prevents automatic daily limit expansions (from 8% to 11%, then 13%, etc.).

Traders speculate this is intentional, to avoid triggering alarm and regulatory action.

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🔹 Chinese Domestic Physical Prices Keep Rising

Domestic PLV surged to RMB 1,510, reflecting tight supply and strong steel production.

The third round of coke price hikes (another +50–55 RMB) is expected to be finalized tomorrow, adding support to bullish sentiment.

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🔹 CFR China Buyers Paying Above $180 for Aus PLV

Actual buying activity now reflects a willingness to pay $180+ CFR China for Australian PLV, showing real follow-through.

GYC is reportedly offered at 104% of PLV benchmark.