End-of-Day Market Summary PHCC – November 3, 2025
- Met Coal Junkie
- Nov 3
- 1 min read
Tone: Cautious and speculative – Market remains afloat on trader activity while genuine end-user demand stays subdued, revealing an increasingly fragile balance between sentiment and fundamentals.
Ex-Indian Seaborne Demand Filled at Discounts: Non-Chinese buyers have been taking discounted index-linked cargoes, but these deals are insufficient to clear the broader seaborne overhang.
India’s Demand Sporadic: Indian mill enquiries are uneven and volume-light, unable to fully absorb the current market supply.
China Tightly Balanced but Hesitant: While the Chinese market remains structurally tight, end users are refraining from purchasing at or above their LTC-equivalent levels, choosing to wait out volatility.
Speculative Traders Dominate: Chinese trading houses continue to drive sentiment, their speculative restocking keeping the market afloat, though this momentum lacks underlying industrial follow-through.
Overall Sentiment: The market stands on speculative support rather than physical conviction, with traders watching whether policy-driven optimism can sustain prices in the absence of real buying.