Market overview from globalCoal for April 24
Wednesday, April 25 2012 - 01:27 AM WIB
Coal markets again witnessed weakness in the prompt markets as both paper and physical markets fell. FOB markets held much of their value, only dropping by ~$0.25 whilst the API#2 hub saw prices tumble by around $1. With Euro power and gas falling prices, growing stocks in ARA ports and an ongoing healthy supply of coal from the US and Colombia helped the bearish tone. Front month Brent crude lost ~$0.50/bbl to end the day at ~$118.20/bbl.
Week to date saw RB bids at sub $100/mt FOB levels in India with a cape being traded in early a.m hours today at $99.70/mt FOB. An off-spec 5500 NAR coal in 50kt was awarded to an Indian buyer at $110.25/mt CFR Paradip which equates to $88/mt FOB. On Indo front, market remained largely flat for various grades of coals.
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 23/04/2012 | Phys API#2 Index (DES) | Q3'12 | -$ 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 | |||
| 24/04/2012 | SWAP NEWC Index | Q1'13 | $ 109.30 | 15,000 | |||
| 24/04/2012 | Phys RB1 | May'12 | $ 99.70 | 150,000 |