Quick Perspective: PLV FOB Chance to Gap Toward 215 as GYC-Only Buyers Remain Uncovered

PLV FOB remains firm with multiple PHCC buyers in India and Southeast Asia still uncovered. Branded miner supply is thin, and while Chinese reloads continue pushing hard to attract interest, their ability to satisfy regional demand is uneven. SEA buyers may consider these reloads, but Indian appetite for such tonnes is limited, leaving the market structurally short of GYC in the near term.

With genuine demand still to be filled and limited miner-direct liquidity, the PLV FOB curve has room to gap higher toward 215, especially if another round of Indian buying emerges before any clear signal of fresh GYC availability.