Market overview from globalCoal for November 14

Markets came off again today, taking out the short-term rally seen after Italy's change of government. In line with this, financial coal values fell by around $0.75 on the benchmark Cal 12 contracts across the three main indices. The physical market remains stilted though index qualifying trades were concluded in the DES ARA hub for the first time in three weeks. Meanwhile, front month Brent crude ended the day (@ 17:00) down again by $2.00 at ~112.15/bbl.

Asian equity markets took some respite today with positive news from Europe at the end of last week, however the Newc market remained subdued with few bids and offers in the prompt. Most market players are balanced on their program for the remainder of this year and are only watching on the side-lines for the right opportunities. On the buy side, interest from China remains low since the golden week holiday as players in the industry adopt a wait-and-see approach. Given the high stockpile and bearish sentiments, prices have been trending southwards with only some interest in cargos for late December/early January as Chinese New Year comes early in 2012. (*)

globalCoal trades this week

Product		Expiry	Price	Volume	Origin	Delivery Point	EFP
14/11/2011	Phys ARA (DES)	Jan'12	$ 114.75	50000	ACPRS	Ams/Rot	EFP