Market overview from globalCoal for April 17
Wednesday, April 18 2012 - 01:07 AM WIB
Bearish sentiment continues to weigh heavily in the energy markets, particularly on the front of the curve. Financial coal fell by over $0.50 on Q2 as the physical market looks to be well offered across all the main hubs. Should the outcome of the Beijing CoalTrans conference add to the negativity, there could be some way further to fall. Meanwhile, June Brent crude ticked off around $0.20 to end the day (at 5pm London time) at ~$118.45/bbl.
Coupled by liquidity issues on one hand and iron ore supply crunch on the other hand, Sponge Iron producers in India continue to languish thus effecting RB demand, bids emanating at levels of $100-101/mt FOB were in the market amidst fears of touching new lows. On Indo front 53-51 gad was bid at $41/mt FOB and 3800 GAR were bid at $ 42/mt FOB. Overall market continued to be quite as most players in China CT.
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 |
| 17/04/2012 | SWAP NEWC Index | Q2'12 | $ 104.00 | 15,000 | |||
| 17/04/2012 | Phys NEWC (FOB Newcastle) | Jun'12 | $ 102.25 | 75,000 | EFP, ND | ||
| 17/04/2012 | SWAP NEWC Index | Q3'12 | $ 105.75 | 15,000 | |||
| 17/04/2012 | SWAP NEWC Index | Q3'12 | $ 105.75 | 15,000 |