Market overview from globalCoal for July 2
Monday, July 2 2012 - 06:17 PM WIB
TPrompt Richards Bay prices continued to firm today, with August loaders trading in the region of $90.40-90.75/t FOB, up from Friday's deal at $90/t FOB. European markets were less robust, with Aug and Sep bid/offers relatively unchanged from Friday's levels. Despite RB1 firming on the physical side, paper lost value at the back of the curve, with Cal 13 API4 down around $0.50/t by the end of the session. Oil posted a bearish start to the week, with front month Brent crude off $1.65/bbl near close of play to sit at $96.15/bbl.
The Newcastle physical market sustained its recent gains today, with September loaders bid at $90.60/mt and offered at $91.00/mt, while October was valued at $91.00/t. According to sources, fundamentals are unchanged, with potential for a downward correction on the horizon, due to subdued demand from China and India.
globalCOAL Trades this Week
| Product | Expiry | Price | Volume | Origin | Delivery Point | Add.Terms | |
| 02/07/2012 | Phys RB1 | Aug'12 | $ 90.40 | 50,000 | |||
| 02/07/2012 | Phys RB1 | Aug'12 | $ 92.00 | 75,000 | EFP |