Market overview from globalCoal for April 04
Thursday, April 5 2012 - 01:45 AM WIB
Coals markets suffered losses from the off today, with May loading Richards Bay tonnes trading at $103.30/t FOB this morning, having been bid at $103.50/t FOB yesterday. June DES tonnes were offered down to $98.60/t DES Rotterdam, versus yesterday's best market of $98.00/99.75/t. In the paper market, Cal 13 contracts shed around $1/t across all three main hubs, while oil prices fell in tandem with coal, represented by front month Brent slipping by $1.63/bbl near close of play to sit at $123.23/bbl.
Reports of a 25% coal export tax proposed by the Indonesian government stirred up some discussion among coal market participants in Asia. A higher tax burden does not bode well for Indonesian producers as they are increasingly exposed to Chinese and Indian buyers both known to be highly price sensitive.
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 04/04/2012 | Phys RB1 | May'12 | $ 103.30 | 50,000 | |||
| 04/04/2012 | ICE Rotterdam Coal Futures | Q1'13 | $ 111.65 | 15,000 |