Market overview from globalCoal for June 26
Tuesday, June 26 2012 - 06:24 PM WIB
Coal markets found some upwards momentum today as continued bidding interest and gains in other energy markets helped coal higher. Brent rose ~$0.80/bbl on the day to close at $91.80/bbl whilst we also saw the wider energy complex rising too. Physical coal markets also solidified gains and we saw trades across the three main hubs at higher levels; $88 traded for Aug Phys NEWC, Aug RB1 traded at $86.95 and Aug DES traded at $89.25, all higher than recent trades. Paper market took their lead from this and we saw prompt paper up by $~0.75 and the Cal13 higher by +0.25 across the board.
Inspite of INR being in a free fall against USD there is still sustained interest for RB as Indian cement majors seem to be in a process of finalising their respective spot and long term tonnages. On the Indo front no deals were reported on a week to date basis in Indian market however offers were seen for 4000 gar at $ 39/mt, 4200 gar at $41/mt, 5000 gar at $ 61/mt, 3800 gar at $36/mt & 4500 gar at $ 48/mt FOB.
globalCOAL Trades this Week
| Product | Expiry | Price | Volume | Origin | Delivery Point | Add.Terms | |
| 26/06/2012 | Phys NEWC (FOB Newcastle) | Aug'12 | $ 88.00 | 30,000 | ND | ||
| 26/06/2012 | Phys ARA (DES) | Aug'12 | $ 89.25 | 50,000 | ACPRS | Rott | EFP |
| 26/06/2012 | Phys RB1 | Aug'12 | $ 86.95 | 50,000 |