Market overview from globalCoal for July 3
Wednesday, July 4 2012 - 12:43 AM WIB
Prompt Richards Bay prices edged lower from yesterday's late rally, with a trade concluded late in the day at $91.50/t FOB, down $0.50/t on the previous session's close. The physical Newcastle market saw an October loader transact at $90.50/t FOB, having been bid at $91.20/t FOB yesterday. Paper markets inched higher today, with Cal 13 API2 up around $0.50/t, and the same contract on API4 gaining a similar amount. Oil reversed yesterday's losses with a bullish run which saw front month Brent crude rise through the $100.00/bbl mark to sit at $101.11/bbl - up $3.77/bbl.
Week to date saw little activity in RB market in Asia as markets firmed up. In India, on Indo front, a 5000 gar coal in 50kt was sold to an end-user at $ 66/mt CFR ECI and a 4800 gar coal was concluded at $58/mt CFR ECI. Both these coal are single mine coal.
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 | ||
| 03/07/2012 | Phys API#4 Index (FOB RB1) | Oct'12 | -$ 0.30 | 75,000 | |||
| 03/07/2012 | Phys API#4 Index (FOB RB1) | Oct'12 | -$ 0.30 | 75,000 | |||
| 03/07/2012 | Phys NEWC (FOB Newcastle) | Oct'12 | $ 90.50 | 25,000 | |||
| 03/07/2012 | Phys RB1 | Aug'12 | $ 91.50 | 25,000 |