Market overview from globalCoal for April 20

A quiet end to a quiet week, with the outlook for coal remaining quite bleak. June RB1 tonnes were bid up to $100/t Fob this afternoon, while DES was offered 96.25/t DES Rott, also for June. Paper markets were also lethargic, with Cal 13 contracts up around $0.65/t across all three major hubs. Oil ticked higher today, with front month Brent crude up by just under $1/bbl near close of play to sit at $118.98/bbl.

Participants of Coaltrans Beijing mostly had a pessimistic view of the Chinese coal demand. Few trades were heard inked during the conference as traders are unwilling to take a position and stockpile at power plants remain high. According to sources from the shipping sector, there is still substantial cargo movement for Q2 (mainly East Coast Australia - China and RBCT - India/China) but Q3 looks to be showing signs of a slow down. On gC screen, a capesize June loading shipment of High ash Australian 5500NAR was bid at US$87/mt.

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
19/04/2012	SWAP NEWC Index	Q1'13	$ 109.60	15,000
19/04/2012	ICE gC NEWC Coal Future	Q1'13	$ 109.60	15,000
19/04/2012	SWAP NEWC Index	Q2'12	$ 103.00	15,000
19/04/2012	Phys ARA (DES)	Jun'12	$ 95.25	50,000	ACPRS	Ams/Rot
19/04/2012	SWAP NEWC Index	Q3'12	$ 104.80	15,000
20/04/2012	SWAP NEWC Index	Q1'13	$ 109.70	15,000
20/04/2012	SWAP NEWC Index	Q1'13	$ 109.75	15,000
20/04/2012	SWAP NEWC Index	Q3'12 0	$ 105.5	15,000