End-of-Day Market Summary PHCC – September 19, 2025
- Met Coal Junkie
- Sep 20
- 1 min read
End-of-Day Market Summary – September 19, 2025
Tone: Bullish Chinese sentiment continues to dominate despite weak FOB fundamentals, with widening Oct–Nov spreads and hints of non-Indian demand lifting market confidence.
Chinese Spot & Macro Support: Spot market remains firm, driven by expectations of macro stimulus and echoes of last year’s “924” rally. Rumors of additional safety checks in Shanxi ahead of National Day boosted sentiment, while DCE May nearly revisited its recent highs, closing at RMB 1,343.
FOB Market Rangebound, Spreads Widen: Despite five Goonyella October cargoes already sold, PLV FOB values remain rangebound at 187–190. Oct–Nov spread widened further to -$4.5 from -$3, in line with expectations of near term weakness.
Non-Indian Demand Glimpse: Market discovered yesterday’s Goonyella trade was a short-covering move for Kardemir, signaling a rare glimpse of non-Indian demand. However, sustainability remains questionable, and FOB supply recovery continues to outpace demand.
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