Market overview from globalCoal for February 17

More positive news relating to Greece's bail-out package combined with upbeat US jobs data gave European markets a welcome boost today. In a quiet end to the week's trading, the financial coal market saw the benchmark Cal 13 contracts rise by around $0.90 across the three main indices. The physical market also tracked northwards, most notably in the Richards Bay hub, although no index qualifying trades were concluded today. Meanwhile, April Brent crude retraced down $1 after a week of solid gains to end up (@ 5pm) at ~$119.10/bbl.

Chinese producers are more aggressive in marketing their coal after the CNY, driving domestic prices down to 760 RMB for 5500NAR FOB QHD and making it challenging for imported coal to be placed. Meanwhile, a Chinese buyer has indicated buying interest at $80 CFR China for 4700NAR Indo coal and an April cargo of Australian 5500NAR was heard trading at $104/mt CFR South China.

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
15/02/2012	Phys ARA (DES)	Mar'12	$ 97.25	65,000	R	Ams/Rot
15/02/2012	Phys RB1	Mar'12	$ 105.25	50,000
16/02/2012	Phys NEWC (FOB Newcastle)	Mar'12	$ 120.00	150,000