Market overview from globalCoal for July 27
Thursday, July 28 2011 - 01:42 AM WIB
Coal markets saw a correction from recent gains, predominantly on the back of currency moves. Although the ongoing strike in South Africa was still playing on trader's minds we've not yet seen a real impact. Consequently, on the back of a stronger US dollar we saw many commodity and energy markets lose value, coal included. Generally all coal hubs shed around $0.25 - $0.50 of value. Oil ended the day just above at $118/bbl, lower by $0.20/bbl.
China local coal price continues to retreat, with stockpiles high and vessel queues lengthy at Sth China ports. So bids have been falling away for Indonesian and Australian coals, despite continued weak freight rates to China. Overall the market continues to move sideways, with continued bearish overtones not yet evident in transactions. (*)
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 25/07/2011 | Phys ARA (DES) | Oct'11 | $ 125.00 | 50000 | ACPRS | Ams/Rot | |
| 25/07/2011 | Phys RB1 | Oct'11 | $ 119.00 | 50000 | |||
| 26/07/2011 | Phys RB1 | Aug'11 | $ 117.00 | 150000 | |||
| 26/07/2011 | Phys API#4 Index | Q4'11 | -$ 1.25 | 150000 | |||
| 26/07/2011 | Phys API#4 Index | Oct'11 | -$ 1.50 | 75000 | |||