Market overview from globalCoal for March 12
Tuesday, March 13 2012 - 01:47 AM WIB
Coal values started the week by coming off in both physical and paper markets, with April Richards Bay tonnes trading at $103.25/t FOB this morning (versus Friday's best offer at $104.50/t FOB). Paper tracked the downward trajectory, with Cal 13 API2 & API4 contracts both losing around $1.00/t, while the same contract for swap NEWC only lost $0.30/t. Oil moved in kind with coal, with front month Brent shedding $0.78/bbl near close of play to sit at $125.20/bbl.
Chinese interest has been increasing with more enquiries coming in. However, few deals have been concluded as handymax/supramax freight gained in strength. Bids for 3800NAR and 4900NAR were heard of for March in the region of $61/mt and $88/mt CFR South China respectively.
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 12/03/2012 | Phys RB1 | May'12 | $103.25 | 5,0000 |