Market overview from globalCoal for August 9
Wednesday, August 10 2011 - 01:26 AM WIB
Coal markets followed financial markets by opening with a swift decline, with prompt European tonnes heard trading $1.50/t lower day-on-day. These gains were steadily recouped over the session, with the same contract bid at $124.25/t by close of play. This pattern was matched in the paper market, with value eroding early on, but clambering back as the session progressed. The cal 12 contracts closed fairly near to where they started the day, while losses at the front end weren't quite clawed back. As expected, oil posted an volatile intraday pattern, with front month Brent crude trading in the range of $98.14 - $105.95/bbl - before sitting at $104.93/bbl by 17:13 BST.
Lowest bids at India's Reliance power for 800 kt tender for Indonesian coal were at $ 66 CIF for 4200 gar,$ 85 CIF for 5000 gar & 105 CIF for 5800 gar. Prices of Indo coal continue to be under pressure as stocks increase at various Indian ports, about 2.5- mill tonnes reported with little evacuation by consumers. (*)
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 08/08/2011 | SWAP NEWC Index | 2012 | $ 123.50 | 60000 | |||
| 08/08/2011 | Phys RB1 | Dec'11 | $ 118.40 | 50000 | EFP | ||
| 09/08/2011 | Phys NEWC (FOB Newcastle) | Sep'11 | $ 118.00 | 25000 | |||