Market overview from globalCoal for March 28
Thursday, March 29 2012 - 12:46 AM WIB
After yesterday's round of firmer physical trades the coal market seems to have found a direction at last. The financial coal market rose again, particularly on the front of the curve, while the benchmark Cal 13 contracts gained around $0.75 across the three main indices. The physical market itself went quiet again and no trades were reported, though bid-offer spreads did track the paper upwards. Meantime, May Brent crude fell nearly $2.00 to end the day (@ 5pm) at ~$123.65/bbl.
Buyers in China are heard to be turning to South African coal with 5500NAR calorific value, which are priced $1-2/mt cheaper (on a delivered basis) than those originating from Australia. Capesize freight between RBCT-Sth China is estimated at $13-14/mt, indicating a net of freight price of $90-91/mt FOB.
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 |