Market overview from globalCoal for May 01

With much of Europe enjoying a public holiday today liquidity was muted. The main action was seen in the morning with values again falling heavily as the strongly bearish tone continued. A DES trade at $86.25/t for May delivery agreed mid morning highlighted the continued fall in prices. Paper also suffered losses, with the prompt again seeing the greatest drops. Oil had a mixed day and by the close of play had posted marginal gains to end higher by ~$0.30 at $119.80/bbl.

Labour day holiday observed in most markets across Asia. In India there was limited activity as end-users feel that there is room for RB prices to head further south due to lack of real demand. Buyers are most likely to delay purchases for few days more. On Indo front, offers for 3800 gar were around $ 42/mt FOB, 63/61 gad around $ 90/mt FOB, 3700 gar at $ 42/mt FOB and 5000 gar at $ 73/mt FOB.

globalCoal trades this week

	Product	Expiry	Price	Volume	Origin	Delivery Point	EFP
30/04/2012	Phys ARA (DES)	Jun'12	$ 90.50	50,000	ACPRS	Ams/Rot
30/04/2012	SWAP NEWC Index	Q1'13	$ 107.10	15,000
30/04/2012	SWAP NEWC Index	Q1'13	$ 107.10	15,000
30/04/2012	SWAP NEWC Index	Q1'13	$ 107.10	15,000
30/04/2012	SWAP NEWC Index	Q3'12	$ 102.50	15,000
01/05/2012	Phys ARA (DES)	May'12	$ 86.25	50,000	ACPRSU	Rott	EFP
01/05/2012	SWAP NEWC Index	Q1'13	$ 106.00	15,000