Market overview from globalCoal for August 15
Tuesday, August 16 2011 - 01:42 AM WIB
Coal showed modest gains again today continuing to run the mildly bullish tone set at the end of last week. Coal was helped higher by the usual external factors; Brent oil rose nearly 1% to gain $1/bbl to close at ~$110/bbl whilst the US$ showed weakness helping boost US$ denominated markets. API#2 rose the most, posting gains of ~$0.65 whilst the FOB markets managed a more modest ~$0.40 as implied freight rose a touch.
Markets shook off the turmoil of last week and equity markets in the Asian zone were in the positive. Coal remained mainly flat though, with bid interest for October NEwcastle material at 120.00 and offered at 121.40 in 25kt, around the same levels as Friday. Many are bearish on Indonesian coals with evidence that suppliers and traders are looking for homes for homogeneous coals. (*)
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 15/08/2011 | Phys ARA (DES) | Oct'11 | $ 126.00 | 50000 | ACPRS | Ams/Rot | EFP |
| 15/08/2011 | Phys ARA (DES) | Oct'11 | $ 126.00 | 50000 | ACPRS | Ams/Rot | EFP |