Market overview from globalCoal for June 28

Physical markets were mixed today, with August DES AR tonnes trading at the same level as yesterday, while prompt Richards Bay markets firmed, with August bids around $0.50-0.75/t higher than yesterday's traded levels. Paper moved in tandem with physical, with API2 losing value across the curve - Cal 13 down $0.85/t, while API4 saw the front of the curve hold firm,, with Q3'12 gaining $0.40/t, while the Cal 13 API4 shed $0.55/t. In other markets, oil slipped lower today, with front month Brent crude off $1.39/bbl near close of play to sit at $92.11/bbl.

Bucking the recent trend, Indian RB consumers are reported be in the market for Q3 purchases. On the Indo front there are tenders reported by large energy companies for 4500 gar and 4200 gar coal to be supplied between July - Sept'12 and Sept'12 - April'13 respectively. These are likely to be finalised by 1H July. Meanwhile a 3800 gar coal in 50kt was sold to a cement producer at $40/t CIF Gangavaram for an end of July arrival.

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
27/06/2012	Phys RB1	Aug'12	$ 87.00	50,000			EFP
27/06/2012	Phys RB1	Aug'12	$ 87.00	50,000
27/06/2012	Phys RB1	Aug'12	$ 87.00	50,000
27/06/2012	SWAP NEWC Index	Q4'12	$ 92.25	15,000
27/06/2012	Phys RB1	2013	$ 95.00	300,000
27/06/2012	SWAP NEWC Index	Q4'12	$ 92.50	15,000
28/06/2012	Phys ARA (DES)	Aug'12	$ 89.25	50,000	ACPRS	Ams/Rot	EFP