Market overview from globalCoal for January 19
Friday, January 20 2012 - 01:56 AM WIB
Bullish sentiment continued across European markets for the third day running, largely on the back of healthy Eurozone bond auctions, with commodities, equities and the energy complex itself all benefiting from an upward swing. The financial coal market saw the Cal 12 contracts move up by around $0.80 across the three main indices in active trading, with the front-end of the curve posting the largest gains. The underlying physical market saw bid-offer spreads track the paper market upwards and index qualifying trades were concluded in the Richards Bay and Newcastle hubs at higher levels. Meanwhile, front-month Brent crude ticked up $0.35 to end the day (@ 5pm) at ~$111.00/bbl.
About 8.00 MT stocks were estimated to be reported at various Indian ports. The major ports remained congestion free. Some RB buyers were bidding Feb tonnages ~104.00. Overall the end-user industry, i.e. cement, sponge iron and steel, continues to run on a low key as demand for the end products still remains elusive.
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 16/01/2012 | Phys NEWC (FOB Newcastle) | Mar'12 | $115.00 | 70000 | |||
| 16/01/2012 | SWAP NEWC Index | 2012 | $110.00 | 60000 | |||
| 17/01/2012 | Phys NEWC Index | Mar'12 | $ 2.00 | 65,000 | |||
| 17/01/2012 | Phys API#4 Index | Feb'12 | $ 1.15 | 50,000 | |||
| 19/01/2012 | Phys NEWC (FOB Newcastle) | Apr'12 | $ 114.50 | 25,000 | ? | ? | ? |
| 19/01/2012 | Phys API#4 Index | Q2'12 | -$ 0.25 | 225,000 | ? | ? | ? |