Market overview from globalCoal for May 03

After opening lower the coal market found some upward momentum and recovered its early losses to end the day slightly higher. A Jun DES trade at $86.50/t was $0.25c higher than the previous trade earlier this week. As part of the correction we API#2 paper saw values bounce most strongly by ~$1.50 on the prompt and ~$1.25 on the Cal13. The FOB markets also gained but less so, API#4 values gained ~$1.25 on the prompt and $1 on the Cal13 whilst the Swap NEWC $0.50c and $1.25 on the prompt and Cal13 respectively. Coal was heavily disjointed from the oil market today as front month Brent lost ~$1.85/bbl to finish at $116.35/bbl.

Week to date saw subdued RB interest in India as most players are trying to gauge the market, however there were June bids around 96-97/mt FOB. On Indo front, a 53-51 gad TM:39/41 was traded at $41.50/mt FOB. The INR closed to a 4 month low against the USD.

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
02/05/2012	Phys API#2 Index (DES)	Jul'12	-$ 3.50	50,000	ACPRS	Ams/Rot
02/05/2012	Phys ARA (DES)	Jul'12	$ 88.00	50,000	ACPRS	Ams/Rot
02/05/2012	Phys RB1	Jun'12	$ 97.00	150,000			EFP
02/05/2012	Phys ARA (DES)	Jul'12	$ 88.00	50,000	ACPRS	Rott
03/05/2012	Phys ARA (DES) 2	Jun'1	$ 86.50	125,000	U	Antw