Market overview from globalCoal for November 1

Another day mired in tentative physical activity saw minimal tonnes trading in the market, as prices softened yet again from the off. November Richards Bay was the main focal point for some, with deals heard at $107/t for a back-half lay-can, while 5-19 lay-can material traded at $104.75. European tonnes were also offered much lower today, December down to $117.75 (compared to yesterday's best bid of $119.25/t). Paper lost ground early on and failed to recover, with Cal 12 API4 valued around $112.15/t near close of play - down ~$2.35/t from the previous close. Oil also took a heavy hit today as, once again, Eurozone fears transposed into negative sentiment across most other markets. By 16:58 GMT, front month Brent crude had tumbled $2.52/bbl to $107.04/bbl.

This week's commencement saw some traction in the Indian market for Indo coal with a blended 53/51 ADB coal changing hands for Nov. at $ 46.00/mt. Offers for 4200 GAR were seen at $ 55/mt; 4600 GAR at low 70s; 5000 GAR at early 80s being peddled but no serious intent from the buy side. On the RB front buyers were seen on the fence while a Nov RB1 was being shown around $105/mt. (*)