Market overview from globalCoal for March 15

Another quiet session saw just one reported fixed price trade, with June DES AR tonnes trading at $98/t mid-afternoon, having been bid $97.50/t in the previous session. Paper markets moved a minimal amount at the back end, with Cal 13 API2 and API4 contracts losing between 10-20 cents over the day. Elsewhere, oil markets came off, on the back of talk concerning the release of UK and US petroleum reserves. Near close of play, front month Brent was down $1.47/bbl, sitting at $123.50/bbl.

During Asian time, due to the coal conference in India, the market remained subdued, with minimal activity. Many traders still feel bearish sentiment, continuing to search for Indian buyers at current levels. Japan experienced another big earthquake yesterday night (14 March) in the Tohoku area, however, no news of this affecting any power stations was reported as yet. With regard to the impending Japanese LTC settlement, latest murmurs indicate around USD115 to 116 as the agreed level . In addition, JPU's are reported to be increasing their steam coal imports by 5 to 8 % in total during the balance of the year.

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
15/03/2012	Phys ARA (DES)	Jun'12	$ 98.00	50,000	ACPRS	Ams/Rot