Market overview from globalCoal for July 12
Thursday, July 12 2012 - 10:43 PM WIB
Coal markets drifted lower today with both physical and paper markets struggling to find liquidity. Again we saw physical markets in the prompt reasonably well offered with both fixed price and index related markets slipping. With the Euro dipping through the day we saw API#2 prices suffer marginally worse than the FOBs. Front month Brent also fell away losing ~$0.25/bbl to close at $99.95. Given this broadly bearish tone we also saw API#4 and Swap NEWC drop away by ~$0.25c across the curve.
Bids are heard from Indian buyers for 4200GAR and 4500GAR at $36/mt and $45/mt respectively. Similar to the Chinese market, the bid/offer spread is still at least $3-4/mt. However, market participants are hopeful that the demand will pick up in Q4 after the monsoon period.
globalCOAL Trades this Week
| Product | Expiry | Price | Volume | Origin | Delivery Point | Add.Terms | |
| 09/07/2012 | Phys RB1 | Aug'12 | $ 88.50 | 50,000 | |||
| 09/07/2012 | Phys NEWC (FOB Newcastle) | Sep'12 | $ 88.50 | 25,000 | EFP | ||
| 09/07/2012 | SWAP NEWC Index | Q4'12 | $ 90.00 | 15,000 | |||
| 09/07/2012 | Phys NEWC (FOB Newcastle) | Oct'12 | $ 89.00 | 25,000 | |||
| 09/07/2012 | SWAP NEWC Index | Q4'12 | $ 89.75 | 15,000 | |||
| 10/07/2012 | Phys ARA (DES) | Sep'12 | $ 88.75 | 50,000 | ACPRS | Ams/Rot | EFP |
| 10/07/2012 | SWAP NEWC Index | 2013 | $ 95.25 | 60,000 | |||
| 10/07/2012 | Phys API#4 Index (FOB RB1) | 2013 | -$ 0.10 | 600,000 | |||
| 11/07/2012 | Phys RB1 | Aug'12 | $ 84.15 | 150,000 | |||
| 12/07/2012 | Phys ARA (DES) | Sep'12 | $ 86.50 | 50,000 | ACPRS | Ams/Rot | EFP |