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Quick Perspective: PLV FOB shifts toward 220 amid absence of miner selling

  • Writer: Met Coal Junkie
    Met Coal Junkie
  • Dec 16, 2025
  • 1 min read

Quick Perspective: PLV FOB shifts toward 220 amid absence of miner selling


PLV FOB has repriced higher toward 220 as miner selling remains notably absent. The Indian market is now late to recognise the emerging supply crunch, with several end users still uncovered.


Chinese re-loads remain uncompetitive once quality degradation is priced in, limiting their effectiveness as a ceiling to FOB values. Meanwhile, Chinese end users have also entered a restocking phase, driving China PHCC values up by nearly USD 25/t to ~210 FOB Australia equivalent, further tightening available prompt supply.


In addition, the onset of the Q1 rainfall season is reinforcing precautionary restocking behaviour across India. At current assumptions, 220 FOB remains economically workable against ~340 domestic coke in India, supporting continued price acceptance rather than near-term resistance.

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