End-of-Day Market Summary PHCC – June 19, 2025

End-of-Day Market Summary – June 19, 2025

Heavy and imbalanced. A wave of unsold PLV and PMV cargoes—amid weakening Chinese demand and no firm bids—leaves the market saturated and directionless. Index-linked trades are under pressure, and sentiment remains broadly bearish as resell and fresh offers pile up.

• Oaky North Offered at $170 FOB, No Takers: The offer resurfaced at $170 FOB, but the market showed no appetite—reinforcing the sense of bearish inertia.

• Chinese PLV Competes with Aussie Supply, Also Untaken: Chinese PLV offered into JKT region netbacks at ~170 FOB as well, yet no trades were confirmed, showing weak regional appetite for high-priced premium material.

• Chinese Q3 LTC Prices Facing Further Pressure: Even after the recent mid-quarter adjustment, market expects additional price drops in China’s Q3 long-term contracts as mills continue to prioritize cheaper domestic feed.

• More Australian PMV Supply Incoming: Expectations are growing for additional PMV releases from BHP as well as resell activity from Southeast Asian steel mills.

• Australian PLV Indicative Availability Emerges: Fresh PLV availability from key Australian miners entered the market this week, further crowding an already supply-heavy segment.

• Platts Index Faces PLV-Driven Pressure: The weight of available PLV cargoes is increasingly dragging the Platts index lower, pushing the PLV–PMV spread wider again.