Market overview from globalCoal for June 06
Thursday, June 7 2012 - 12:56 AM WIB
With London returning from an extended weekend break, markets opened expectantly subdued, with paper making marginal losses throughout the morning session. The afternoon saw slightly more life in terms of physical business, with August DES tonnes trading at $87.25/t AR, down from $90/t a week previous. Near close of play, the Cal 13 API2 and API4 contract had both lost around $1.35/t, while oil posted the opposite performance, with front month Brent up around $2.00/bbl near the end of the day to sit at $100.84/bbl.
There was limited activity during Asian trading hours as market participants wait to take direction from the European session which reopens after a long weekend. Weakening prices and recent spate of defaults have resulted in sellers being very cautious about showing offers for Australian 5500NAR coal despite bids around $80-81/mt FOB for prompt capsize cargoes.
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 04/06/2012 | Phys NEWC (FOB Newcastle) | Sep'12 | $ 92.00 | 25,000 | |||
| 06/06/2012 | Phys ARA (DES) | Aug'12 | $ 87.25 | 50,000 | ACPRS | Ams/Rot | EFP |