Market overview from globalCoal for February 9
Friday, February 10 2012 - 01:53 AM WIB
Today saw the recent bearish trend continue as coal markets lost further ground. With the Euro gaining on the back of Greece agreeing further austerity package measures and oil markets again gaining, coal disjointed itself from outside factors. API#2 broadly lost ~$0.30 whilst the FOB contracts saw larger losses on the prompt, with Q212 falling by $0.70 and $1 on the API#4 and NEWC respectively. Brent crude gained through the day to finish at just over ~$118.00/bbl, higher by $0.90/bbl, whilst EUR:USD gained to finish at just over 1.33.
Indian sponge iron producers seemed to have activated their buying interest and thus traders were seen taking keen interest in the RB market. Some bids around $105/mt were being shown but could not get much traction. No port congestion reported at major ports with waiting time almost on arrival. (*)
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 07/02/2012 | ICE Rotterdam Coal Futures | Q4'12 | $ 112.00 | 15,000 | |||
| 07/02/2012 | ICE Rotterdam Coal Futures | Q4'12 | $ 112.05 | 15,000 | |||
| 07/02/2012 | Phys NEWC Index | Q3'12 | $ 0.45 | 75,000 | |||
| 07/02/2012 | Phys ARA (DES) | Feb'12 | $ 97.50 | 75,000 | ACPRSU | Rott | |
| 08/02/2012 | Phys NEWC (FOB Newcastle) | Apr'12 | $ 115.00 | 25,000 | EFP | ||
| 08/02/2012 | Phys ARA (DES) | Mar'12 | $ 98.00 | 70,000 | ACPRSU | Ams/Rot | EFP |
| 09/02/2012 | Phys NEWC (FOB Newcastle) | Apr'12 | $ 114.00 | 25,000 | |||
| 09/02/2012 | SWAP NEWC Index | Q3'12 | $ 110.00 | 15,000 |