Market overview from globalCoal for March 27
Wednesday, March 28 2012 - 02:11 AM WIB
The main driver in the energy markets today was currencies where the Euro rose against the US dollar in response to today's Italian bond auctions and expectations that The Fed is preparing for another round of quantatative easing. The financial coal market firmed on the front of the curve on the back of stronger physical bids and trades, while the benchmark Cal 13 contracts remain largely unchanged across the three main indices. After a quiet couple of weeks the physical market roared back to life today with four index qualifying trades being paid in the DES ARA hub at the $98+ level, indicating the market may be due to turn after recent bearishness and despite the unusually high amount of US coal being offered into the Atlantic basin. Meantime, May Brent crude fell $0.40 to end the day (@ 5pm) at ~$125.25/bbl.
Traders in India were seen bidding RB sub 103.00/mt FOB levels today. RB end-users continued to show buying interest ~ $115 /mt CFR ECI. Indo offers for 5000 GAR were seen offering at $ 70/mt and 63-61 GAD around $91-92/mt FOB. Few offers for high sulphur US coal were also floating in the market.
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 26/03/2012 | Phys RB1 | May'12 | $ 103.00 | 50,000 | ACPRS | Rott? | |
| 27/03/2012 | Phys ARA (DES) | May'12 | $ 98.25? | 75,000 | ACPRS | Rott? | |
| 27/03/2012 | Phys ARA (DES) | Jun'12 | $ 98.00? | 75,000 | ACPRSU? | Ams/Rot | |
| 27/03/2012 | Phys ARA (DES) | Jun'12 | $ 98.00?? | 75,000 | ACPRSU | Ams/Rot | |
| 27/03/2012 | Phys ARA (DES) | Jun'12 | $ 98.00?? | 75,000 | ACPRS | Rott | |
| 27/03/2012 | ICE Rotterdam Coal Futures | Q4'12 | $ 108.40 | 15,000 | |||
| 27/03/2012 | ICE RB Coal Futures | Q4'12 | $ 105.95 | 15,000 |