Market overview from globalCoal for April 03

After last week's run of impressive gains the energy markets diverged over direction today: coal, gas and power all ticked off while crude oil continued its advance northwards. In a thin day's trading, financial coal saw the benchmark Cal 13 contracts fall by around $0.75 on API#2 and around $0.50 on the API#4 and swap NEWC indices. The physical market was moribund once again, with no index qualifying trades to report, but it remains fundamentally well supplied/offered across all the main hubs. Meanwhile, May Brent crude traded in a $2.50 range today before ending the day (@ 5pm London time) at ~$124.45 following an afternoon rally.

Asian market started the week on a quiet note, Chinese buyers are off to a 3 days holiday while for India, it is the first working day of the new financial year. On the phys newc market, offer for June was shown at $112/mt for a panama cargo while a bid came in July at $107/mt, but for a smaller parcel of 25kt. (*)