Market overview from globalCoal for August 19

In an active end to the week we initially saw values for coal fall strongly during morning trading as wider markets opened sharply lower with commodities in general, equities and the US$ lower. However, by the end of the day we had seen a recovery in prices leading coal markets to end the week on a more balanced note. In early trading Brent fell but by the close of business had corrected to end the day higher by ~$1.40/bbl at $108.35/bbl. API#2 was off ~$1.50 in early trading but recovered to finish broadly flat whilst the FOB markets managed to post small gains of ~$0.25.

During the Asian time zone, market jitters were abound as bids came and went as equity markets started their downward trend, on further debt concerns in Europe overnight. From Japan, we have not heard any new tenders and markets remains quiet. Only news from markets in North Asia was a reputed failure of a coal fired power station which appears to be overworked on the back of nuclear power issues, as well as a hot summer season. Since the Japanese earthquake, the number of power stations that have stopped or required extensive maintenance is now 10 - of which 6 are coal fired. (*)

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
16/08/2011	Phys RB1	Nov'11	$ 119.25	50000
16/08/2011	Phys RB1	Oct'11	$ 119.00	75000
17/08/2011	Phys ARA ( DES )	Oct'11	$ 125.15	50000	ACPRS	Ams/Rot	EFP
17/08/2011	Phys ARA ( DES )	Nov'11	$ 125.10	50000	ACPRS	Ams/Rot	EFP
18/08/2011	Phys ARA ( DES )	Oct'11	$ 123.00	50000	ACPRS	Ams/Rot	EFP
19/08/2011	Phys ARA ( DES )	Nov'11	$ 122.00	50000	ACPRS	Ams/Rot	EFP
19/08/2011	Phys ARA ( DES )	Oct'11	$ 121.00	50000	ACPRS	Ams/Rot	EFP
19/08/2011	Phys ARA ( DES )	Nov'11	$ 121.00	50000	ACPRS	Rott
19/08/2011	Phys RB1	Oct'11	$ 118.00	75000			EFP