Market overview from globalCoal for April 05
Friday, April 6 2012 - 02:10 AM WIB
As expected the coal market finished the week on a quiet note ahead of the Easter holidays with limited activity on both paper and physical markets. Physical markets saw a cape trade for May RB1 at flat to API#4 and a July DES AR index panamax trade at a sizeable -4.00 discount to further underline the oversupply seen in the European market . Coal markets fell slightly across the three main hubs on the front of the curve, with the prompt dropping by ~$0.50, while conversely the Cal 13 contracts ticked up by ~$0.25. Oil prices were a touch higher on the day with Brent making incremental gains of around $0.60/bbl.
Week to date saw sublime activity in Asia especially as China has been away most of the week. India's NTPC announced a 5 MT coal import tender with supplies to be completed within four months of award. Talks about imposing of 25 pct export tax by Indonesia does not augur well for the Power producers in India and they are gearing themselves in fire fighting mode to lobby with the Govt.
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 | |||
| 05/04/2012 | Phys API#4 Index (FOB RB1) | May'12 | $ 0.00 | 150,000 | |||
| 05/04/2012 | Phys API#2 Index (DES) | Jul'12 | -$ 4.00 | 75,000 | ACPRSU | Ams/Rot |