Market overview from globalCoal for February 14
Wednesday, February 15 2012 - 01:30 AM WIB
Talk of a credit downgrade for the UK weighed on European markets once again, adding to the already bearish sentiment. However, the wider energy complex remained largely unmoved. The financial coal market saw the benchmark Cal 13 contract tick off by $0.30 across the three main indices. Although values remained broadly unchanged, the physical market came to life with a flurry of index-qualifying trades being concluded in the DES ARA and Richard Bay hubs. Meanwhile, March Brent crude traded sideways to end the day (@ 5pm) at ~$117.90/bbl.
Indian RB buyers were seen showing firm interest today in high sulphur US origin coal with one consumer RFQ closing today in 75kt. Another cement plant was in the market today for an April RB cape. Branded single mine Indo origin coal offer for 6300-6100 gad coal was shown ~ $102.00/mt FOB.
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 13/02/2012 | Phys NEWC Index | Jun'12 | $ 0.75 | 75,000 | |||
| 14/02/2012 | Phys RB1 | Mar'12 | $ 104.75 | 50,000 | |||
| 14/02/2012 | Phys RB1 | Apr'12 | $ 103.20 | 75,000 | EFP | ||
| 14/02/2012 | Phys API#4 Index | Apr'12 | $ 0.00 | 75,000 | |||
| 14/02/2012 | Phys ARA (DES) | Mar'12 | $ 97.00 | 65,000 | R | Antw | |
| 14/02/2012 | Phys ARA (DES) | Feb'12 | $ 96.00 | 65,000 | R | Antw |