Market overview from globalCoal for January 12
Friday, January 13 2012 - 01:49 AM WIB
Another quiet day on coal with coal values drifting lower especially on the API#2 which broadly ignored a gaining Euro. Coal seemed isolated from the usual outside factors as we saw oil rise and gas and power markets remain broadly stable. API#2 values seemed more guided by slightly lower physical values and has been the case for the last few days the FOB markets again held their value better than the API#2. By the end of the day the Euro had gained nearly 1% against he US$ and front month Brent was $1.25/bbl higher at $113.50/bbl.
Indonesian prices - which have held steady despite the weak demand from China and India - are beginning to show sign of weakening, with prices for 3800NAR coal lowered from $56/mt to $54/mt and 4200NAR dropping a dollar to $63/mt. Prompt Newcastle coal remains tight, with several players seemingly short for Feb and March. This is a result of some poor weather and production issues at some mines.
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 |