Market overview from globalCoal for August 11

Today saw another session of gains in the physical and financial coal markets, with prompt DES tonnes trading early on at $125.25/t - up $0.25/t from the previous session. Paper gained across all hubs, more so at the back end of the curve, with Oct API2 up $0.20/t, while the Cal 12 gained $0.80/t. Oil posted a mixed performance - with front month Brent crude gaining throughout the morning to a high of $108.08/bbl, before slipping to $106.33/bbl by 17:24 BST.

NTPC and Mahagenco, two large Indian state utilities will be closing their tenders for import of 4.0 and 3.50 mill tonnes respectively during second & third week Aug'11. Many Indian buyers are pushing their laycan back to Sept. Indo coal GCV 53/51 adb with TM 39/41 coal being offered $48-$49/mt, 4000 GAR is being shown at $ 52, high CV 63/61 at 93 for single mine coal. (*)

globalCoal trades this week

Product		Expiry	Price	Volume	Origin	Delivery Point	EFP
08/08/2011	SWAP NEWC Index	2012	$ 123.50	60000
08/08/2011	Phys RB1	Dec'11	$ 118.40	50000			EFP
09/08/2011	Phys NEWC (FOB Newcastle)	Sep'11	$ 118.00	25000
10/08/2011	Phys ARA (DES)	Oct'11	$ 125.00	50000	ACPRS	Ams/Rot	EFP
10/08/2011	Phys RB1	Sep'11	$ 116.75	75000			EFP
11/08/2011	Phys ARA (DES)	Oct'11	$ 125.25	50000	ACPRS	Ams/Rot
11/08/2011	Phys NEWC Index	Sep'11	-$ 2.00	25000
11/08/2011	Phys API#2 Index (DES)	Oct'11	$ 0.00	50000	ACPRS	Ams/Rot
11/08/2011	Phys API#4 Index	2012	$ 0.25	600000
11/08/2011	Phys RB1	2012	$ 121.50	300000