Market overview from globalCoal for April 16
Tuesday, April 17 2012 - 02:02 AM WIB
Renewed fears over the Eurozone debt crisis dominated the markets today. The coal market was no exception and opened the week on a decidedly bearish note. The financial coal indices all saw losses on the day: API#2 down by $1.10, API#4 by $0.30 and swap NEWC by $1.00. The physical market looks well offered, most notably in the DES ARA hub where over-supply issues remain, and two index-qualifying trades were reported there at an average of $96.95. Meanwhile, June Brent crude lost almost a whopping $3 to end the day (at 5pm London time) at ~$118.30/bbl.
The Newcastle market weakened further, with offers in the prompt ~$0.50cents lower than last weeks close. Bearish sentiment remains with no real price direction evident, and no signs of further interest from buyers in Asia. In the Indonesian market, while many are hopeful of new deals being struck this week at a conference in China, production levels are on the rise as the region has seen good weather recently.
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 16/04/2012 | Phys ARA (DES) | Jun'12 | $ 97.00 | 50,000 | ACPRS | Ams/Rot | EFP |
| 16/04/2012 | Phys ARA (DES) | Jun'12 | $ 96.90 | 50,000 | ACPRS | Rott | EFP |