Market overview from globalCoal for July 29

Coal markets finished the week on a quieter note with most direction coming from outside coal fundamentals. With the US and European debt situations continuing to worry world markets we saw weakness in equities and the US$. The weaker US$ fed through to give FOB coal markets a mild boost but less so Europe as the Euro was also under pressure. However, oil fell today on demand worries from the US which all but eradicated the effects of the US$. Coal markets posted minor gains in the prompt but lost value along the curve as we saw some stronger buying interest on near dated physical markets. Oil fell $1.25/bbl to end the day at $116.25/bbl.

Asian markets moved mostly lower early Friday as the vote on a bill to extend the U.S. government's debt ceiling was put on hold. Korean appear to be bidding around $107 basis 6080 gar for 4900nar type material - around $2 less than previous months. Further softening on Newcastle prices with the prompt month offered at $119.50 for September.

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	510000
26/07/2011	Phys API#4 Index	Oct'11	$ 1.50	75000
28/07/2011	Phys RB1	Sep'11	$ 117.50	50000
28/07/2011	Phys ARA (DES)	Sep'11	$ 125.00	50000	ACPRS	Ams/Rot
29/07/2011	Phys RB1	Sep'11	$ 118.00	50000
29/07/2011	Phys ARA (DES)	Oct'11	$ 125.50	50000	ACPRS	Ams/Rot