End-of-Day Market Summary PHCC – June 6, 2025
- Met Coal Junkie
- Jun 6
- 1 min read
End-of-Day Market Summary – June 6, 2025
Bearish bias continues to build as resell volumes increase and PLV pressure intensifies, even though PMV holds firm. The market is adjusting to a structurally oversupplied PLV outlook amid ongoing Indian demand for branded PMV.
Oaky North Trades at $181 FOB: Exen sold 35kt of Oaky North to Tata Steel at $181 FOB, confirming the cargo’s legitimacy and invalidating any lingering supply concerns. The deal shows that Oaky Creek has shipping capability.
More Oaky North Reselling Expected: Market begins to digest the possibility of at least two more Panamax cargoes of Oaky North being resold by Chinese steel mills. The significant FOB–CFR gap remains unresolved and may pressure the PLV-led index.
China Fundamentals Still Weak: Although DCE has bounced slightly in recent sessions, Chinese physical prices continue to slide. Coke producers expect further price cuts, and domestic met coal sentiment remains bearish.
Widening Split Between PMV and PLV: PMV continues to be supported by Indian demand and structural tightness, while PLV-linked offers like Oaky North drive index downside risk.
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