Market overview from globalCoal for January 23
Tuesday, January 24 2012 - 02:46 AM WIB
Today saw a quiet start to the week, with Chinese New Year certainly impacting activity in the market in places. In the Richards Bay market, March loading tonnes traded at $105.75/t FOB, slightly up from Friday's best bid of $105/t. Paper drifted slightly on the back of thin trading volumes, with Cal 12 API2 down around $0.50/t over the session, while the same contract on API4 was widely unchanged. Oil started the week with a slight gain - with front month Brent crude up $0.75/bbl near close of play, to sit at $110.59/bbl.
With the majority of Asian countries on public holidays, there was little to report on screen today. Strong sentiment in the prompt months for Newcastle coal remains, with solid bids down the curve and few offers. And it is currently raining in the Hunter Valley, so this bullish run may continue. Vessel queues have started to ease at PWCS, as the backlog of waiting vessels from Q4 are slowly filled.
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 23/01/2012 | Phys API#4 Index | Feb'12 | $ 2.50 | 25,000 | |||
| 23/01/2012 | Phys RB1 | Mar'12 | $ 105.75 | 50,000 |