Market overview from globalCoal for December 14

Physical and paper markets lost further ground today, with prompt DES cargoes offered down to $110/t DES AR for Feb delivery, having traded yesterday at $111.10/t. Paper also got hit across all three major hubs, with Cal 12 API losing around $1.60/t near close of play, while the same contract on API4 shed around $1.25/t. These markets followed a session of heavy losses for oil, with front month Brent crude tumbling $3.81/bbl to sit at $105.69/bbl at 17:03 GMT. Yet again, lingering Eurozone fears appeared the main influence factor across falling markets, with gold and global stock also feeling the pinch yet again.

Soft conditions remained in Asian trading, as coal market prices in Asia continue to feel downward pressure. Newcastle market fell ~0.25cents, in line with last nights close in London. March newc midpoint on screen was $110.25 today, on thin liquidity. More reports of vessels heading for Sth East Asia with no homes yet are keeping market participants on their toes, wary of taking on any new deals till these are washed through the system. (*)

globalCoal trades this week

	Product	Expiry	Price	Volume	Origin	Delivery Point	EFP
12/12/2011	Phys ARA (DES)	Jan'12	$ 111.25	50000	ACPRS	Amst	EFP