Market overview from globalCoal for July 6

Today saw DES ARA interest move along to September delivery, which traded at $90.25/t DES Rott this morning. Prompt Richards Bay markets remained relatively subdued compared to recent sessions, with August loaders offered down to $90.50/t FOB, having been bid at $90.20/t FOB yesterday. Paper markets drifted lower today at the front of the curve, but were firmer at the back end, a direction shared by the oil markets, which saw front month Brent crude lose $2.53/bbl to sit at $98.17/bbl near close of play.

The physical Newcastle market saw a third trade done this week as interest in prompt cargoes increases. An October loader changed hands today at $90.00/mt during Asian hours while an August cape was bid at $90.00, a generous premium of ~$1.50 relative to paper.

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
04/07/2012	Phys NEWC (FOB Newcastle)	Sep'12	$ 90.00	25,000
04/07/2012	Phys RB1	Q3'13	$ 95.50	75,000
05/07/2012	Phys ARA (DES)	Aug'12	$ 87.75	50,000	C	Rott	EFP
06/07/2012	Phys NEWC (FOB Newcastle)	Oct'12	$ 90.00	25,000			EFP
06/07/2012	Phys ARA (DES)	Sep'12	$ 90.25	50,000	ACPRS	Rott	EFP
06/07/2012	SWAP NEWC Index	2013	$ 96.25	60,000