Market overview from globalCoal for June 15
Friday, June 15 2012 - 10:39 PM WIB
Global commodity and equity markets registered an upswing today in the run-up to Monday's Greek elections and the announcements of further central bank support across Europe. The financial coal market gained $0.50-0.60 down the curve and across the three main indices. The physical market saw bid-offer spreads move up in line with the paper, and although Aug RB1 traded up by $1.30, interest remains focused on index markets as uncertainty over price direction prevails. Meanwhile, Aug Brent crude ended the day (at 5pm London time) broadly flat on yesterday at $97.65/bbl.
Despite high stockpiles and port congestion, we are still hearing a couple of Chinese traders with interest in Aus 5500 material for July/August laycan. According to one trader, they are willing to pay $89/mt CFR South China while another trader values it at $77-78/mt FOB Newcastle but is not confident of putting in a bid as the market seems to have more room to soften.
globalCOAL Trades this Week
| Product | Expiry | Price | Volume | Origin | Delivery Point | Add.Terms | |
| 11/06/2012 | Phys ARA (DES) | Aug'12 | $ 84.90 | 50,000 | ACPRS | Ams/Rot | |
| 11/06/2012 | Phys ARA (DES) | Aug'12 | $ 84.90 | 50,000 | ACPRS | Ams/Rot | EFP |
| 13/06/2012 | Phys NEWC Index (FOB Newcastle) | Q4'12 | -$ 0.75 | 225,000 | |||
| 13/06/2012 | Phys NEWC Index (FOB Newcastle) | Q1'13 | -$ 0.60 | 75,000 | |||
| 14/06/2012 | Phys RB1 | Aug'12 | $ 81.65 | 50,000 | |||
| 14/06/2012 | Phys RB1 | Aug'12 | $ 81.65 | 50,000 | |||
| 15/06/2012 | Phys RB1 | Aug'12 | $ 82.95 | 25,000 |