Market overview from globalCoal for March 29
Friday, March 30 2012 - 02:23 AM WIB
Despite a fall in the Euro versus the US dollar and Brent crude continuing its downward correction the coal market continued on its recent bullish run. Financial coal firmed again, particularly on the front of the curve, while the benchmark Cal 13 contracts gained around $0.50 on API#2 and around $0.75 on the API#4 and swap NEWC indices as implied freight narrows. The physical market saw a phys NEWC parcel trading at $108.00 for June but was largely lacklustre again, indicating some uncertainty over price direction in spite of the upward move in paper. Meanwhile, May Brent crude fell $1.25 to end the day (@ 5pm) at ~$122.90/bbl.
Stymied again by a weakening INR against USD and high freights, Traders in India were seen enquiring for off-spec RB offers to match the end-user price aspirations. Indo offers for 3700 GAR were shown at $ 44/mt FOB; 53-51 GAD at $ 44/mt FOB and 5000 GAR at $ 72.50/mt FOB. Stock levels at major ports remain around 7 mill tonnes approx.
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 | |||
| 29/03/2012 | Phys NEWC (FOB Newcastle) | Jun'12 | $ 108.00 | 25,000 |