Market overview from globalCoal for November 11
Saturday, November 12 2011 - 02:35 AM WIB
Coal discovered some bouncebackability today after several bearish days by posting gains of ~$1 across the board. Some respite regarding the woes of European debt helped equities and the Euro higher whilst other energy and commodity markets also gained. All this combined to help coal move higher and we ended the week on a higher note. Again the focus for physical coal was in the very prompt with a couple of Dec RB1 trades seen, the last at $104.50. Brent oil was higher by ~$0.50/bbl to finish at ~$114.15/bbl
Markets are still extremely quiet and players in Asia are uncertain on where the floor might be. Some of the Asian buyers are also concerned that the carbon tax would lead to higher prices for Australian coal next year. In Japan, one of JGIs is searching one cargo for early next year delivery. However most of JPUs and JGIs are facing comfortable stock level and not in the spot market. (*)
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 07/11/2011 | Phys RB1 | 2012 | $ 115.50 | 300000 | |||
| 10/11/2011 | Phys RB1 | Jan'12 | $ 107.75 | 25000 | |||