End-of-Day Market Summary PHCC – September 10, 2025
- Met Coal Junkie
- Sep 10
- 1 min read
End-of-Day Market Summary – September 10, 2025
BHP Sells End-Oct Goonyella at $188 FOB – BHP sold an end-October Goonyella cargo to IMR at $188 FOB. Later laycans could command firmer pricing given flexibility on loading and arrival indexation, with the contango structure offering hedging opportunities.
Supply Recovery Outpaces Demand – This marks the second time BHP has sold without issuing a COI, reinforcing perceptions that supply is returning much faster than demand. Mid-October Peak Downs availability adds to the bearish supply-side picture.
Ex-India Demand Still Quiet – No meaningful ex-India deals have emerged, leaving the burden of absorption largely on India.
China Coke Cuts Weigh – China is set for a second round of coke price cuts this Friday, with a third expected to follow, further dampening sentiment and delaying any market rebound.
Tone: Bearish, as faster-than-expected supply recovery and Chinese coke cuts outweigh limited demand signals.
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