Market overview from globalCoal for August 25

Coal markets initially saw a bullish start but this was quickly extinguished as physical offers came into the market and the absence of meaningful bids consequently generated a more bearish tone. With Brent trading in a $2.50/bbl range volatility in the oil market helped move coal markets somewhat as oil fell sharply in late morning only to recover in the late afternoon. The effect on coal was far more muted but the late oil rally helped boost coal, it wasn't not enough to regain the earlier losses and although physical market values finished broadly unchanged paper markets were lower by ~$0.75. Oil ended up ~$0.25 at ~$110.40/bbl.

Lull of sorts in Indo due to onset of Ramadan, anticipate market movement around first week Sept when work resumes, in India 4000 gar were floating around $52-53/mt, 4600 gar around $70 while 53/51 adb around 48. Plenty of stock at ports as overall core industry shifts gears amidst global financial jitters. (*)

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
24/08/2011	Phys NEWC (FOB Newcastle)	Sep'11	$ 121.50	25000
24/08/2011	Phys RB1	Oct'11	$ 117.75	75000
25/08/2011	Phys RB1	Oct'11	$ 118.00	75000			EFP