Market overview from globalCoal for December 02

After strong liquidity yesterday on both paper and physical coal markets today saw the week draw to a subdued close. Coal prices initially moved following moves in the oil and other energy markets. However, late on in the afternoon markets retraced and correspondingly coal gave up its gains. All the main hubs ended the day broadly unchanged. Oil managed to hold onto slim gains finishing the day higher by ~$0.25/bbl at ~$109.20/bbl.

Stocks were mostly lower as market consolidated after yesterday's rally. In the coal markets, India and Chinese buyers are still absent and this is unlikely to change in the next 2 months. During Asian trading, the Jan phys Newc market saw an improved bid at $109.50/mt with a corresponding offer for the same quantity for $112.75/mt. Feb'12 saw a better bid at $110.25/mt but drew no offers. (*)

globalCoal trades this week

	Product	Expiry	Price	Volume	Origin	Delivery Point	EFP
30/11/2011	SWAP NEWC Index	Q1'12	$ 111.00	15000
30/11/2011	SWAP NEWC Index	Q1'12	$ 111.00	15000
30/11/2011	SWAP NEWC Index	Q1'12	$ 111.00	15000
30/11/2011	SWAP NEWC Index	Q1'12	$ 110.60	15000
30/11/2011	SWAP NEWC Index	Q1'12	$ 111.35	15000
30/11/2011	SWAP NEWC Index	Q1'12	$ 111.35	15000
01/12/2011	SWAP NEWC Index	Q1'12	$ 112.00	15000
01/12/2011	SWAP NEWC Index	Q1'12	$ 112.00	15000
01/12/2011	Phys API#4 Index	Q1'12	-$ 1.00
01/12/2011	Phys API#4 Index	Q3'12	-$0.85
01/12/2011	Phys NEWC (FOB Newcastle)	Mar'12	$111.50				EFP
01/12/2011	Phys API#4 Index	2013	-$0.50
01/12/2011	Phys API#4 Index	Feb'12	-$1.20