Market overview from globalCoal for June 18
Monday, June 18 2012 - 10:36 PM WIB
After an initial surge on the Euro in early morning trade saw coal values push higher the afternoon saw all these gains and more given up. With currency and equity markets initially reacting well to news of the Greek election result most markets started on a bullish note. However, with reality setting in the Euro fell away and dragged other markets lower. European gas and power markets were all lower and coal was no exception. On the Cal13 dated contract API#2 ended the day lower by $1.50, API#4 was off by $1.20 and the Swap NEWC lost $1.25. Aug Brent crude ended the day broadly flat on yesterday at $96.65/bbl, lower by ~$1/bbl.
globalCOAL's Phys HA Aus 5500 traded today at $79/mt FOB New South Wales, Australia. The 125kt cargo will be loaded in July. This is a boost amidst the bearish sentiment prevalent for the past few weeks, during which time trades have been few and far between. The Newcastle market window began with a good number of bids and offers on fixed price in the front months, settling slightly lower at around 84.50 usd/mt for August delivery.
globalCOAL Trades this Week
| ? | Product | Expiry | Price | Volume | Origin | Delivery Point | Add.Terms |
| 18/06/2012???? | Phys HA Aus 5500 | Jul'12 | $ 79.00 | 125,000 | ? | ? | ? |
| 18/06/2012??????? | Phys ARA (DES) | Aug'12 | $ 85.00 | 50,000 | C | Rott | EFP |