Market overview from globalCoal for April 26

Coal markets posted a mixed performance today, with June DES tonnes trading at an 18-month low of $93.15/t DES Rott, while paper markets gained at the back end of the curve. Richards Bay remained stronger by comparison to DES AR, with June loaders best bid at $99.25/t FOB, versus $98.75/t FOB best bid yesterday. Paper markets saw Cal 13 API2 up around $0.75/t by the end of the day, while the same contract on API4 was up closer to $0.50/t. Oil headed north again today, with front month Brent crude up $0.63/bbl near close of play to sit at $119.75/bbl.

There was a distinct bearish sentiment prevailing amongst Indian RB buyers today. There were few May bids around $98 - 98.60/mt in the market with a general feeling that they may head southwards next week if the buyers hold on to their bids for a while. On the Indo front there were several offers chasing fewer bids.

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
25/04/2012	Phys NEWC (FOB Newcastle)	Jun'12	$ 100.25	75,000			EFP, ND
25/04/2012	Phys API#2 Index (DES)	Jul'12	-$ 3.40	75,000	ACPRSU	Rott
26/04/2012	Phys ARA (DES)	Jun'12	$ 93.15	50,000	ACPRS	Rott	EFP