End-of-Day Market Summary PHCC – May 28, 2025
- Met Coal Junkie
- May 28
- 1 min read
End-of-Day Market Summary – May 28, 2025
Market divergence deepens—Chinese domestic pricing collapses, but seaborne FOB Australia stays anchored. The paper market remains fragile, but real demand and tight supply continue to shield the physical market from deeper losses.
TSI Q3 Trades Down to $184: The TSI Q3 contract edged lower to $184, tracking renewed weakness in China. The drop reflects macro bearishness rather than seaborne fundamentals.
DCE Hits New Low: The Dalian coking coal contract broke another record low, highlighting ongoing oversupply and weak sentiment in the Chinese domestic market. This continues to weigh on paper, despite limited direct correlation to seaborne FOB pricing.
PLV FOB Australia Holds Firm: Despite paper and DCE weakness, Premium Low Vol (PLV) FOB prices remain resilient, supported by tight spot availability and consistent interest from Indian end users. Sellers continue to resist offers below the $190 mark.
China Coke Market Sees Fourth Round of Cuts: The Chinese coke market has now implemented four rounds of price cuts, underscoring serious margin pressure on coke producers. The aggressive destocking suggests the bottoming process may be underway, although more time is needed to confirm stabilization.
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