Market overview from globalCoal for February 29
Thursday, March 1 2012 - 01:34 AM WIB
Today again saw negative sentiment continue in the coal market with all major coal contracts losing value. May DES saw two trades through the day, firstly at $98 then secondly $97 highlighting the falling market. We also saw Mar DES trade for Russian material at $96 and Mar and Apr RB1 trade at $104.90 and $104.00 respectively. Paper markets were also lower with the Cal13 dated products losing ~$1.25 on the FOB markets and ~$1.60 on the AP#2. Brent held onto value to end the day broadly unchanged whilst the Euro fell away helping pressure the API#2 contract.
Liquidity remains thin for prompt Newcastle markets during Asian trading hours with some signs of the softening prices. The index linked market on the other hand saw more interest, further out in the curve, with Q3'12 bid/offer spread at +0.25/0.50 and Q4'12 at flat/+0.75.
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 | |
| 29/02/2012 | Phys ARA (DES) | May'12 | $ 98.00 | 50,000 | CRS | Ams/Rot | |
| 29/02/2012 | Phys ARA (DES) | Mar'12 | $ 96.00 | 65,000 | R | Amst | EFP |
| 29/02/2012 | Phys RB1 | Mar'12 | $ 104.90 | 50,000 | |||
| 29/02/2012 | Phys RB1 | Apr'12 | $ 104.00 | 25,000 | |||
| 29/02/2012 | Phys ARA (DES) | May'12 | $ 97.00 | 50,000 | ACPRS | Ams/Rot | EFP |