Market overview from globalCoal for July 9
Monday, July 9 2012 - 10:19 PM WIB
Coal markets started the week broadly unchanged with values marked around last week's closing levels. Physical markets saw some interest with an Aug RB1 cargo trading at $88.50 whilst a Phys NEWC Oct traded at $89.00, both slightly lower than previous trades. Paper markets shaped up in similar fashion with the Cal13 values across the board dipping slightly on the API#2 whilst the FOB contracts held their ground. Brent crude was flat through the morning but posted gains through the afternoon to end the day higher by ~$1.15/bbl at ~$99.35/bbl.
Distressed cargoes are being offered in the market as Chinese and Indian buyers default on their contracts. At least 3 shipments of Indonesian coal with calorifc values ranging from 4500GAR to 5500NAR are heard looking for homes.
globalCOAL Trades this Week
| Product | Expiry | Price | Volume | Origin | Delivery Point | Add.Terms | |
| 09/07/2012 | Phys RB1 | Aug'12 | $ 88.50 | 50,000 | |||
| 09/07/2012 | Phys NEWC (FOB Newcastle) | Sep'12 | $ 88.50 | 25,000 | EFP | ||
| 09/07/2012 | SWAP NEWC Index | Q4'12 | $ 90.00 | 15,000 | |||
| 09/07/2012 | Phys NEWC (FOB Newcastle) | Oct'12 | $ 89.00 | 25,000 | |||
| 09/07/2012 | SWAP NEWC Index | Q4'12 | $ 89.75 | 15,000 |