Updated: End-of-Day Market Summary PHCC – May 13, 2025

End-of-Day Market Summary – May 13, 2025

The market remains balanced but tense, with limited fresh supply, strategic reshuffling of cargoes, and macro softness from China creating a complex but temporarily contained price environment.

• BHP Offers Late-June GYC Cargo: BHP has shown a 75kt Goonyella (GYC) cargo with a June 21–30 laycan to the market. The later-than-expected laycan has raised questions over whether this will be the final June GYC offering. As a result, both buyers and sellers are holding off, awaiting greater clarity on further spot availability.

• GYC Swapping Activity Caps Upside: Market sources report active cargo swapping, where traders are buying back GYC cargoes from end-users who are flexible with both Canadian and Australian coal. These GYC cargoes are then redirected to GYC-only buyers, helping bridge the supply gap and limiting immediate upside pressure.

• Chinese Market Sees 1st Coke Price Cut: China recorded its first coke price cut, signaling the start of a potential downward adjustment in the coke value chain. Market participants expect a conclusion to this round of cuts within the week, which may influence domestic coal demand sentiment.

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