Market overview from globalCoal for February 22
Thursday, February 23 2012 - 02:03 AM WIB
Coal prices firmed today in the physical and paper markets, with March tonnes valued at $106/t - versus yesterday's best offer of $105.50. Further down the curve we saw Q1'12 RB trade at $111/t, while Cal 13 changed hands at the same level - $1.50/t higher than yesterday's deal for the same tonnage and loading. Paper values also gained today, with cal 13 API2 valued around $1.40/t higher near the end of the day, while the same contract on API4 was up nearer $1.15/t. Oil followed suit, with front month Brent crude gaining $1.18/bbl near close of play to sit at $122.84/bbl. Conversely, stock markets were not as bullish amid concerns raised over Greece's ability to enforce the "harsh reforms" enacted upon them in yesterday's bailout package.
Chinese market remains shut to spot cargoes, some traders who have signed long term commitment with producers are heard selling cargoes at a loss. Congestion problem at cape disports is also a key concern for buyers who are looking at alternative cargoes from Colombia. Offer for prompt Colombian 6000NAR material is heard offered around API#2 - c7 - $2. (*)
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 | |
| 22/02/2012 | Phys RB1 | 2013 | $ 111.00 | 300,000 | |||
| 22/02/2012 | Phys RB1 | Q1'13 | $ 111.00 | 75,000 |