Market overview from globalCoal for November 15
Wednesday, November 16 2011 - 02:11 AM WIB
Bearish sentiment over the Eurozone continues to dominate traders views. Despite this, financial coal values saw an early morning rally but that was short-lived - the benchmark Cal 12 contracts fell by $0.20 on the API#2 but actually rose by $0.25 on the API#4 and swap NEWC as implied freight took a hit. The physical market was quiet again though the DES ARA hub saw an index-qualifying trade again, down around $0.25 on yesterday. Meanwhile, front month Brent crude ended the day (@ 17:00) marginally up by $0.10 at ~112.00/bbl.
Bearish sentiments continue to prevail in Chinese & Indian markets, most of the purchases happening in India is against SEB's tender requirements, offers such as 3800 gar were shown around $ 46/mt; 53/51 adb $ 47/mt; 3400 gar: $39/mt. RB coal still finding hard to price in Indian & Chinese markets respectively, we heard bids ~ $ 122/mt CFR out of Chinese end users while a leading Indian cement producer in the market for a Dec RB in a Cape. (*)
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 |
| 15/11/2011 | Phys ARA (DES) | Jan'12 | $ 114.50 | 50000 | ACPRS | Rott | EFP |