Market overview from globalCoal for March 14
Thursday, March 15 2012 - 12:37 AM WIB
Today saw DES ARA trade at its lowest level for some time, with April delivered tonnes changing hands at $94/t DES Rotterdam, versus yesterday's best offer of $96.25/t DES AR. Richards Bay also traded - out of London hours - at $103.45/t FOB for an April loading cape, having been offered at $103.80/t yesterday in 50kt. Aside from these deals, physical markets seemed apathetic, with little interest visible on the follow of either deal. Oil also posted a lacklustre day price movement wise, with front month Brent edging lower by $0.29/bbl near close of play to sit at $125.93/bbl.
With most of the traders at the coal conference in India, the market was pretty quiet. globalCOAL executed a capesize RB1 at 103.45 during Asian hours, fairly flat compared to yesterday's close. The Long Term contract negotiation is still on-going between producers and the JPUs. It is said the producers are looking around $120/mt while the JPUs are bidding in the $110-115 range.
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 12/03/2012 | Phys RB1 | May'12 | $103.25 | 5,0000 | |||
| 13/03/2012 | Phys NEWC (FOB Newcastle) | Apr'12 | $104.25 | 50,000 | |||
| 13/03/2012 | Phys NEWC (FOB Newcastle) | Apr'12 | $104.25 | 25,000 | EFP | ||
| 13/03/2012 | Phys RB1 | May'12 | $103.00 | 50,000 | EFP | ||
| 14/03/2012 | Phys RB1 | Apr'12 | $ 103.45 | 150,000 | |||
| 14/03/2012 | Phys ARA (DES) | Apr'12 | $ 94.00 | 50,000 | ACPRS | Rott |