Market overview from globalCoal for February 28
Wednesday, February 29 2012 - 01:47 AM WIB
Today saw bearish sentiment grip the coal market with all major coal contracts losing value. Both physical and paper markets fell through the session, physical markets saw an Apr DES trade at $98.00 with further selling interest there; this compared with yesterday's market mid-point of $99.00. Paper markets were also lower with the Cal13 dated products losing ~$1.20 on the FOB markets and ~$1.40 on the AP#2. Contributing to this downward move we again saw a healthy volume of physical coal offers on the DES ARA contract combining with lower oil and Euro markets. Brent fell consistently through the day to end below $123/bbl, down ~$1.25/bbl. The Euro fell away during the afternoon but managed a late rally to end lower but almost unchanged.
USD/INR now seems to be in consolidation mode and this may have some positive effect on the coal imports in India, with some April RB buying interest emanating ~$105/mt FOB today.
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 27/02/2012 | Phys ARA (DES) | Mar'12 | $ 98.85 | 65,000 | R | Antw | |
| 27/02/2012 | Phys RB1 | Apr'12 | $ 105.25 | 50,000 | |||
| 28/02/2012 | Phys ARA (DES) | Apr'12 | $ 98.00? | 50,000? | ACPRS | Rott |