Market overview from globalCoal for February 21

A busier day in the physical market saw prices establish some clarity, with Q4'12 RB1 trading at $107/t, while the Cal 13 contract changed hands at $109.50/t. These levels were broadly %0.50-0.75/t lower than yesterday's markings. In the European market, April delivered tonnes traded twice at $99.50/t DES Rotterdam, around $0.50/t lower than yesterday's best offer. Paper markets saw around $0.40/t eroded from the Cal 13 contracts of the main hubs. Oil headed the opposite direction to coal today, with front month Brent crude gaining $0.57/bbl near close of play to sit at $120.62/bbl. In other markets, the DOW Jones hit a "post crisis" high of 13,000, as the Eurozone agreed to a second Greek bail-out package.

Indian RB interest today remained muted, with one Thailand based trader heard exiting the market as offers don't seem to work out with end-users. Two large cement producers were reported in the market for March RB tonnes. Buying aspirations seems to have peaked at around $105/mt FOB for March even as tonnes seems hard to come by. Indo 63-61 gad single mine offers were seen at $91/mt FOB and there were few bids for sub bit 53-51 gad coals at $44/mt with offers holding ground at $46/mt .

globalCoal trades this week

	Product	Expiry	Price	Volume	Origin	Delivery Point	EFP
21/02/2012	Phys API#4 Index	Mar'12	$ 2.50	50,000
21/02/2012	Phys RB1	Q4'12	$ 107.00	225,000
21/02/2012	Phys ARA (DES)	Apr'12	$ 99.50	50,000	ACPRS	Rott	EFP
21/02/2012	Phys RB1	2013	$ 109.50	300,000
21/02/2012	Phys ARA (DES)	Apr'12	$ 99.50	50,000	ACPRS	Rott