Market overview from globalCoal for April 13

The coal markets finished the week in subdued manner with both paper and physical struggling to find liquidity. A correction in the US dollar and a falling oil market gave today a bearish tone and this was visible across main coal hubs with the exception of the prompt DES ARA market which found some bid support. Brent oil finished lower by ~$0.60/bbl to end at $121.10/bbl. Cal13 API#2 ended the day at $113.60, API#4 at $111.25 and Swap NEWC at $114.00.

Prices softened in the phys newc market, with June delivery cargo offered at US$103.75/mt, down 25cents from close of business yesterday. After the conclusion of the Australia-Japan negotiation, the phys newc market has continued its decline, further decreasing its premium over RB1. Market participants expressed optimism that the Coaltrans to be held in Beijing next week would hopefully bring more clarity and provide some direction for the Pacific market.

globalCoal trades this week

	Product	Expiry	Price	Volume	Origin	Delivery Point	EFP
11/04/2012	Phys RB1	May'12	$ 102.70	50,000
11/04/2012	Phys RB1	May'12	$ 102.60	65,000			EFP
11/04/2012	Phys ARA (DES)	May'12	$ 95.50	75,000	U	Antw	EFP
12/04/2012	Phys ARA (DES)	Jun'12	$ 97.00	75,000	ACPRS	Rott
13/04/2012	Phys RB1	May'12	$ 102.30	25,000