Market overview from globalCoal for March 05

Values were widely unchanged today, with a couple of physical RB1 deals executed for April loading at $103.80/t FOB - in the middle of Friday's bid/offer spread. In paper markets, the cal 13 contracts on the main three hubs were fairly unchanged, with API2 and API4 up around $0.25/t. Oil posted slight gains today, with front month Brent crude edging up $0.69/bbl near the close of play to sit at $124.34/bbl.

Approximately one day's production was lost at the end of last week in NSW coal production regions as downpours wreaked havoc in the State. This mostly affected coal awaiting at port and at stockpiles with no reports of disruption to infrastructure. Bids for Newc were seen at $107.50/mt in the prompt, with offers at $109/mt. Despite the reports of poor weather, there were several offers seen for April'12 which many viewed as further price corrections. In China, bids were seen at $102.50/mt CFR for 5500nar material, and $86/mt CFR for 4800nar. This is seen as relatively flat to where the market was seen last week.

globalCoal trades this week

	Product	Expiry	Price	Volume	Origin	Delivery Point	EFP
05/03/2012	Phys RB1	Apr'12	$ 103.80	25,000
05/03/2012	Phys RB1	Apr'12	$ 103.80	50,000