Market overview from globalCoal for May 28
Tuesday, May 29 2012 - 12:46 AM WIB
Coal markets remained quiet into the start of the week, with a European Bank Holiday taking a few players out of the market. Markets firmed over the course of the day, with Cal 13 paper contracts ticking higher - API2 up around $0.90/t, and API4 to a lesser degree, up nearer $0.50/t. In other markets, waning fears of a Greek euro exits saw stocks post a steadier performance than in recent sessions, while oil also ticked higher, with front month Brent crude up $0.50/bbl near close of play to sit at $107.33/bbl.
Continued weakness evident in the coal markets in Asia, with bids from Chinese buyers lower than Friday's close. CFR sth China bids are hovering in the mid 90's basis 5500nar. The movement to alternative sources into Asia, particularly Colombian coal and US is continuing, with the recent Korean tender being awarded to a Colombian supplier.
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 28/05/2012 | Phys API#2 Index (DES) | Jul'12 | -$ 3.50 | 50,000 | ACPRS | Amst | |
| 28/05/2012 | Phys API#2 Index (DES) | Jul'12 | -$ 3.00 | 50,000 | C | Rott |