Market overview from globalCoal for May 29
Wednesday, May 30 2012 - 02:23 AM WIB
Coal markets strengthened today, with August DES tonnes changing hands at $90/t DES AR near the end of the day, the highest price in recent weeks for a prompt cargo. Paper started the day stronger, and firmed even more during the afternoon, though more so at the front of the curve. Cal 13 API2 ended up around $0.25/t higher, while Aug API2 was up $1.00/t. Conversely, oil prices sank today, with front month Brent crude slipping $0.68/bbl near close of play to sit at $106.43/bbl.
Week to date saw scant RB bids even though few buyers were seen enquiring for July tonnes. There were rumours of a Chinese stimulus package which may support the sentiment if it is announced. On indo front buying interest was seen for 53/51 gad with TM: 39/41 at $38/mt, 4000 gar at $ 43/mt, 4200 gar at 46/mt & 5000 gar at $ 67/mt.
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 | |
| 29/05/2012 | Phys ARA (DES) | Aug'12 | $ 90.00 | 50,000 | ACPRS | Ams/Rot |