Market overview from globalCoal for March 07
Thursday, March 8 2012 - 02:20 AM WIB
Global markets stabilised today after recent falls, most notably in equities. The financial coal market saw minor gains in thin trading, with the benchmark Cal 13 contracts adding $0.40 across the three main indices. The physical market was decidedly lacklustre as well and no index qualifying trades were concluded. Meanwhile, April Brent crude surged late on as it traded higher by over $2/bbl to end the day (@ 5pm) at ~$124.10/bbl.
Market sentiment remains bearish with Apr Phys Newc offers down by $0.25 to $108.25 during Asian trading hours. Despite decrease of stockpiles in South China ports, Chinese acceptance price is still maintained around $101-$103/mt CFR South China for Indo 5500NAR coal. This would net back to $90-92/mt with freight around $11/mt.
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 | |||
| 06/03/2012 | SWAP NEWC Index | Q2'12 | $ 109.00 | 15,000 | |||
| 06/03/2012 | Phys ARA (DES) | Apr'12 | $ 95.00 | 65,000 | R | Ams/Rot | |
| 06/03/2012 | Phys RB1 | Apr'12 | $ 103.60 | 50,000 | |||
| 07/03/2012 | SWAP NEWC Index | Q2'12 | $109.25 | 15,000 |