End-of-Day Market Summary PHCC – July 9, 2025

End-of-Day Market Summary – July 9, 2025

Stabilizing to Constructive – Goonyella PMV trade anchors sentiment, PRAs acknowledge spec divergence, and China’s physical prices show firmness.

🔹 BHP Sold Goonyella PMV to VISA – $180 FOB (30kt Fixed + Index-Linked)

Sale slightly beat expectations, supporting market tone.

TSI August jumped from 173.5 → 178, then settled back to 176 as sentiment digested the print.

🔹 Oaky North Offer Holds at $177–178 FOB

Focus now is whether the trader will break below $177 FOB.

If that doesn’t happen, the cargoes may fade from the market, limiting downside risk but capping upside at the same time.

🔹 PRAs Acknowledge Oaky North–PLV Benchmark Spread

Growing recognition that Oaky North differs materially from PLV benchmarks like Saraji.

This weakens any downward pressure on the index from discounted Oaky North offers.

🔹 China Spot Physical Market Strengthens

Chinese spot PHCC prices firming, with Anze PHCC rising to RMB 1,210.

DCE Sep futures climbed near RMB 880 as short positions covered and physical tightness supported outlook.