End-of-Day Market Summary PHCC – June 26, 2025

End-of-Day Market Summary – June 26, 2025

Stabilising but capped – Positive Chinese sentiment is lifting paper and supporting prices, but physical FOB still faces resistance from competitive non-Australian supply. The market may be forming a floor, but confidence remains tentative.

• DCE Hits RMB 820, Sentiment Lifts: The Dalian Commodity Exchange surged to RMB 820, reinforcing bullish momentum as domestic supply tightens post-safety checks. Despite split opinions on upside potential, market tone improved notably.

• Australian CSR 65 Traded Near $151 FOB: This trade triggered debate over how it benchmarks relative to PLV/HCC, with most agreeing the HCC-to-PLV relativity (~76%) is too low and likely to normalize upward.

• Oaky North Rumored Sold to Ex-India: Unconfirmed reports of a trade resurfaced among PRAs, adding to confusion but signaling interest may be building at low $170s FOB. No firm confirmation yet.

• TSI July Trading Near $173: July TSI paper hovered around $173, as shorts began covering positions, suggesting potential paper-led floor building.

• Canadian PMV Caps Upside for Aus PHCC: Though FOB may be stabilizing, Canadian-origin cargoes priced below $170 FOB continue to act as a ceiling for Australian PHCC offers.