Market overview from globalCoal for December 15

Another quiet day in the coal market saw value inch lower, with Jan & Feb DES trading at $109.75 and $109.50/t respectively. Cal 12 paper contracts all ticked lower, API2 down $0.30/t, and API4 by only $0.05/t near close of play. Oil headed in the opposite direction today, with front month Brent crude gaining $0.58/bbl by 17:13 GMT time to sit at $105.60/bbl, with positive Euro and US employment data cited as the main reason behind the uptick.

With high stockpile at the ports and the rupee continuing its decline against the US dollar which is up about 20 percent since August, not many trades into India are heard recently. However, participants are confident that India would need to resume buying in due course as consumption has not declined and domestic coal supply cannot match that demand. (*)

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
15/12/2011	Phys ARA (DES)	Jan'12	$ 109.75	50000	ACPRS	Rott	EFP
15/12/2011	Phys ARA (DES)	Jan'12	$ 109.50	50000	ACPRS	Ams/Rot	?