Market overview from globalCoal for August 4

Global economic concerns continue to weigh heavily on equities and commodities while in Europe specifically, Spain and Italy appear to be next in the firing line as investors exit markets there. However, financial coal markets remain surprisingly resilient on the back of aggressive physical trades with values ticking off just ~$0.15 across the three main indices. The physical market again saw index qualifying deals being concluded in the ARA and Richards Bay hubs at levels flat to yesterday. Meanwhile, front month Brent crude fell a further $3.00 to end the day at ~$110.20 (@17:00).

Indian market participants anticipate buying activity to pick up by mid September, traders feel there might be some direction to be seen after China conference next month, with Ramdan in Indonesia and high vessel congestion on the ECI(East Coast India) esp. Vizag and Paradip, plenty of offers chasing fewer buyers. A GCV 6000 adb TM 23 blended coal cargo traded at $84 for Aug. (*)

globalCoal trades this week

Product		Expiry	Price	Volume	Origin	Delivery Point	EFP
01/08/2011	Phys ARA (DES)	Sep'11	$ 125.50	50000	ACPRS	Rott	EFP
01/08/2011	Phys ARA (DES)	Oct'11	$ 126.00	50000	ACPRS	Ams/Rot	EFP
02/08/2011	Phys ARA (DES)	Oct'11	$ 126.25	50000	ACPRS	Ams/Rot
02/08/2011	Phys ARA (DES)	Oct'11	$ 126.25	50000	ACPRS	Rott	EFP
03/08/2011	Phys RB1	Q4'11	$ 120.50	150000
03/08/2011	Phys ARA (DES)	Sep'11	$ 126.25	50000	ACPRS	Rott	EFP
03/08/2011	Phys ARA (DES)	Oct'11	$ 126.70	50000	ACPRS	Ams/Rot	EFP
04/08/2011	Phys RB1	Oct'11	$ 119.25	75000