Market overview from globalCoal for April 23

Today saw markets soften, with around $1/t eroded from the three major hubs' Cal 13 contracts. Physical markets remained relatively subdued, with July DES tonnes best seen 96.25/96.75 for CRAPS AR, while CRAPSU material was offered lower at $96/t DES AR. Jun RB1 was best 99.50/100.00/t - fairly unchanged from Friday's levels. Oil followed coal's downward trajectory, with front month Brent crude shedding $1.19/bbl to sit at $117.57/bbl near close of play.

A quiet start to the week with the Asian market picking off where it closed lasted Friday, a capesize vessel of June High Ash Australian 5500NAR was bid at $88/mt on the gC screen which is in line with the trades ($88-90/mt) heard concluded during Coaltrans Beijing last week. Indian buyers and Indonesian producers are also looking to finalize some shipments as freight seems likely to increase further as the monsoon season draws nearer. May'12 shipment of 5400GAD was heard offered at $56.50/mt CFR East Coast India while the bid was a dollar lower.

globalCoal trades this week

	Product	Expiry	Price	Volume	Origin	Delivery Point	EFP
23/04/2012	Phys API#2 Index (DES)	Q3'12	-$ 3.10	150,000	ACPRS	Ams/Rot
23/04/2012	SWAP NEWC Index	Q1'13	$ 109.25	15,000
23/04/2012	SWAP NEWC Index	Q3'12	$ 105.25	15,000
23/04/2012	SWAP NEWC Index	Q1'13	$ 109.30	15,000
23/04/2012	SWAP NEWC Index	Q2'12	$ 103.00	15,000