Market overview from globalCoal for January 10
Wednesday, January 11 2012 - 01:54 AM WIB
Through the morning we saw prompt physical markets helping to keep levels up on the swaps market with the FOB markets in particular providing a floor to value. As we moved into the afternoon values were eroded as gas, power and oil slipped back from earlier highs. Gas and power all but gave up yesterday's strong gains and this started to drag coal lower. By close of play all coal hubs were down by $0.50 - 0.75 across the board. Oil was higher on the day by ~$1/bbl ending at ~$113.40/bbl.
RB had Indian buyers watching the market with some enquiries at $105/mt FOB levels for Feb. There was a screen traded for March RB at $107/mt early in the morning session and an Indo 53-51 TM 39 single mine changed hands in India at $45,65/mt FOB for a mid Jan laycan. Total stocks were reported at a comfortable level of ~ 8MT at various ports down from 11 MT earlier in Nov'11.
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 09/01/2012 | Phys ARA (DES) | Mar'12 | $109.00 | 50000 | ACPRS | Ams/Rot | EFP |
| 09/01/2012 | SWAP NEWC Index | 2012 | $112.75 | 60000 | |||
| 09/01/2012 | SWAP NEWC Index | Q2'12 | $111.50 | 15000 | |||
| 10/01/2012 | Phys RB1 | Mar'12 | $107.00 | 25000 | ? | ? | ? |