Market overview from globalCoal for August 23

Coal markets gained today and in early trading we saw physical markets solidify this with an Oct DES trade $1 higher than the previous day. Oil markets drifted sideways although some mid afternoon volatility saw prices fall over $1/bbl before recovering to end the day higher by $0.50/bbl. Coal markets had drifted through the early afternoon but showed some muted reaction to this and we saw coal markets push slightly higher at the end of the day to close around $1 higher than yesterday.

In India west coast buyers getting active as monsoon seems to be tailing off, offers with gcv 53/51 adb TM 39/41 ex East Kalimantan at around $48 and south Kalimantan around $46. Blended 63/61 adb priced around $ 92 while 4200 gar offers were being shown at around $ 55. With Chennai high court banning coal imports effective Oct'11 at Chennai port, it is expected that traffic would increase at Krishnapatnam and Karaikal ports. (*)

globalCoal trades this week

Product		Expiry	Price	Volume	Origin	Delivery Point	EFP
22/08/2011	Phys RB1	Oct'11	$ 118.00	75000
22/08/2011	Phys RB1	Oct'11	$ 118.00	75000			EFP
23/08/2011	Phys ARA (DES)	Oct'11	$ 123.75	50000	ACPRS	Ams/Rot	EFP
23/08/2011	Phys RB1	Oct'11	$ 117.75	75000
23/08/2011	Phys ARA (DES)	Oct'11	$ 124.00	50000	ACPRS	Rott