End-of-Day Market Summary PHCC – May 21, 2025
- Met Coal Junkie
- May 21
- 1 min read
End-of-Day Market Summary – May 21, 2025
The market remains balanced with fading upside momentum. While TSI is holding, the flattening curve, buyer flexibility, and QR uncertainty suggest a market repositioning for lower volatility and more fluid trade flows across origins.
TSI Holds Stable, Curve Flattens: The TSI index remained relatively stable, but signs of structure flattening emerged, with Q4 2025 sold at $190, narrowing the gap between near and forward months. This suggests reduced conviction in a strong Q3/Q4 rebound.
New Indian Buyers Emerge, More Flexible: New Indian buying interest is surfacing, but these buyers appear more flexible, willing to accept both Canadian and Australian PHCC, unlike earlier GYC-only demand.
Indonesian Coke Trade Fuels QR Speculation: Rumors of Indonesian coke being traded have sparked speculation on India’s coke import quota policy—whether it may be lifted, extended, or revised. Merchant coke makers and coal traders are closely watching for clarity, as any QR shift could reshape raw material flows.
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