Market overview from globalCoal for April 30

Value ticked lower from the off today, with an early physical DES AR trade at $90.50/t for June delivery of ACPRS material - the lowest prompt price since September 2010. Richards Bay was scant in terms of offers, with bids starting the day at $98/t FOB, before retreating to the $96.50/t FOB level by the afternoon. Paper also suffered losses, with the front end taking most of the damage. Heaviest hit was Jun API2, which saw $2.40/t wiped off, while the Cal 13 contract lost closer to $1.50/t. API4 held steadier in comparison, with the front end off around $1.50/t, and the back end down around $1.00/t. Oil also posted losses, with front month Brent crude off $0.68/bbl to sit at $119.15/bbl near close of play.

It is a quiet start to the week with the Japanese and Chinese markets on holiday. Lower CV Indonesian coal seems to be the flavour of the day for Chinese buyers. There were bids seen for end May/early June laycans at $71/mt FOB Indonesia for 4700 NAR material and 57 $/mt CFR South China for 3800 NAR material.

globalCoal trades this week

	Product	Expiry	Price	Volume	Origin	Delivery Point	EFP
30/04/2012	Phys ARA (DES)	Jun'12	$ 90.50	50,000	ACPRS	Ams/Rot
30/04/2012	SWAP NEWC Index	Q1'13	$ 107.10	15,000
30/04/2012	SWAP NEWC Index	Q1'13	$ 107.10	15,000
30/04/2012	SWAP NEWC Index	Q1'13	$ 107.10	15,000
30/04/2012	SWAP NEWC Index	Q3'12	$ 102.50	15,000