Market overview from globalCoal for December 08

Further Eurozone debt proposals failed to shore up market confidence again, resulting in falling Euro rates and a forecast cut in commodities demand. In light trading, the financial coal market bucked this stance and the benchmark Cal 12 contracts actually gained over $0.50 across the three main indices. The physical market was seasonally quiet and there were no index qualifying trades concluded today. Meanwhile, front-month Brent crude fell $1.40 to end the day (@ 17:00) at ~$108.10/bbl.

Low CV Indo coals getting some traction in the Indian market as compared to high CV, offers for 53/51 adb with TM39 were ~ $45-46/mt; 3900 gar ~$ 46/mt; 4200 gar ~$ $56-57/mt & 63/61 ~ $92/mt. An Aluminium smelter reported to have booked sub spec RB at around $110/mt CIF west coast, 6100 gad material in 50kt for Jan. (*)

globalCoal trades this week

	Product	Expiry	Price	Volume	Origin	Delivery Point	EFP
05/12/2011	Phys API#4 Index	Feb'12	-$ 1.60	150000
06/12/2011	Phys RB1	Jan'12	$ 104.00	75000
06/12/2011	Phys RB1	Feb'12	$ 104.00	50000			EFP
06/12/2011	Phys ARA (DES)	Feb'12	$ 111.75	50000	ACPRS	Ams/Rot	EFP