Market overview from globalCoal for January 11
Thursday, January 12 2012 - 01:36 AM WIB
Although the morning started with some promise, activity fell away through the day and the afternoon saw both limited liquidity and volatility. Prompt physical markets again helped to maintain values early on. However with oil and the Euro both dropping through the morning, coal and other energy markets surrendered to these factors and values fell away. Front month Brent fell ~$0.65/bbl to finish around $112.60 whilst the Euro lost ground against the US$, dropping to another new low under �1.27 per US$. Off the back of this coal values broadly fell by between $0.75 - $1.
Chinese buying interest is still subdued, with most buyers waiting for prices to soften further. Indo low CV coal of NAR3600 for Feb was heard offered at $60/mt CFR South China but attracting no buyers. Unlikely to see trades getting done with the high stockpile at ports and the Lunar New Year drawing nearer.
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 |