End-of-Day Market Summary PHCC – June 18, 2025
- Met Coal Junkie
- Jun 18
- 1 min read
End-of-Day Market Summary – June 18, 2025
The market remains suppressed. Even as branded PMV clears in line with expectations, buyers are cautious, spreads are flat, and Chinese alternatives are crowding out Australian tonnage. Sentiment remains fragile, and any optimism is short-lived.
BHP Sells GYC at $180.9 FOB (75kt, End-July): The deal cleared within expectations but carried a slightly bearish undertone, reinforcing subdued sentiment. The lack of upside reaction post-deal suggests market fatigue.
globalCOAL Bidding Disconnected: Early 1–10 July bid at $175 FOB was viewed as unrealistic due to logistics. A later 21–30 July bid at $168 FOB highlighted the ongoing pressure on branded PMV.
TSI Q3 Faded After Premature Optimism: Q3 paper rose to $178 ahead of the BHP print but quickly dropped below $177 as the sale level confirmed market softness.
Q3 Structure Flattens: Minimal inter-month spread between July, August, and September contracts signals lack of directional conviction and suggests buyers see no urgency to commit.
PLV Buyers Turn to Chinese Supply: Despite talk of PLV demand, more buyers are shifting toward Chinese coking coal alternatives, undermining Australian FOB support.
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