End-of-Day Market Summary PHCC – October 22–23, 2025
- Met Coal Junkie
- Oct 23
- 1 min read
End-of-Day Market Summary – October 22–23, 2025
Tone: Bullish and rebalanced – China’s emergence as the marginal buyer has redefined market dynamics, lifting PLV above PMV and reinforcing confidence across both paper and physical markets.
Multiple PLV Cargoes Trade Near $190 FOB: Several PLV parcels were sold to Chinese end users and traders around $190 FOB, underscoring China’s increasing appetite and ability to absorb multiple Australian cargoes.
BHP Sells Early-Dec GYC @ ~$193 FOB: The sale to IMR confirmed speculative buying despite abundant Australian export flow, as Chinese buyers remained active.
China Becomes the Price Setter: With India no longer the clearing market for PLV, China’s dominance as the marginal buyer has shifted the market structure, pushing PLV back above PMV.
TSI and DCE Rally in Tandem: TSI December rose to $201, while DCE Jan cleared above RMB 1,250, reflecting firm sentiment and synchronized bullish momentum across paper and futures markets.
Australian Supply Healthy but Absorbed: Despite strong Australian shipment pace, Chinese demand has so far been able to absorb volumes without breaking sentiment, keeping fundamentals balanced.