Market overview from globalCoal for May 09
Thursday, May 10 2012 - 01:26 AM WIB
Renewed concerns over the Eurozone debt crisis dominated the day's proceedings once again, with commodities and equities all reporting losses. All three of the main financial coal indices fell with the benchmark Cal 13 contracts losing $1.40 on API#2, $0.40 on API#4 and $1.00 on swap NEWC. The physical market enjoyed a bumper day with index qualifying trades being concluded on all three of the key hubs at lower levels (see trade summary below) to add to the already bearish sentiment. Meanwhile, front-month Brent crude fell around $2 to end the day (at 5pm London time) ~$111.40/bbl.
Bucking the trend, globalCOAL brokered 2 x 150kt std RB1 capes in European trading hours with at least one of them finding a home in India. A couple of large cement producers were reported in the market for June cargoes. On the Indo front a 5100 GAR single mine coal was traded at high 70s/mt FOB and a 53-51 gad with TM 39/41 changed hands at $ 39.50/mt FOB for a 2H May laycan.
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 08/05/2012 | SWAP NEWC Index | Q1'13 | $ 106.00 | 15,000 | |||
| 08/05/2012 | Phys NEWC (FOB Newcastle) | Jul'12 | $ 99.00 | 25,000 | ND
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| 08/05/2012 | Phys ARA (DES) | Jun'12 | $ 85.00 | 50,000 | ACPRS | Rott | EFP |
| 08/05/2012 | Phys RB1 | Jun'12 | $ 96.70 | 150,000 | |||
| 08/05/2012 | Phys RB1 | Jun'12 | $ 97.00 | 150,000 | |||
| 08/05/2012 | Phys RB1 | Jun'12 | $ 97.00 | 25,000 |