End of Day PHCC Market Summary February 2
- Met Coal Junkie
- 2 days ago
- 1 min read
End of Day PHCC Market Summary February 2
Tone: Momentum stalling but not broken - The rally is losing sharpness as price validation disappoints, yet supply visibility remains thin
• Lotus Sells to Jindal Near 253 FOB
Lotus concluded a sale to Jindal around 253 FOB, a level that fell short of broader market expectations. The final price surprised many given the preceding bullish tone and has introduced hesitation into near term price thinking
• TSI Stable with Mild Selling Pressure
TSI levels remained broadly stable but showed a slight selling bias, reflecting fading enthusiasm rather than aggressive downside conviction
• Mixed Market Interpretation
The Jindal trade has triggered divergent speculation, with some viewing it as late cycle exhaustion while others see it as a tactical trade that does not reset broader value
• BHP Still Absent
There remains no visibility on BHP spot cargoes, which continues to underpin the market structurally despite weaker marginal prints
• February Peak Downs Still Unsold
The previously marketed February Peak Downs cargo remains unsold, reinforcing the idea that buyer resistance is building at current levels
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