Market overview from globalCoal for November 17

With Eurozone worries continuing leading to higher Spanish and French bond yields, as well as a wider commodity market sell-off, coal prices held firm ending the day broadly in line with yesterday's close. Energy and metals markets were all lower on the day with gold off over $25/oz and front month Brent oil falling by ~$2.25/bbl to ~$109.50. Despite this coal lost little value and we saw some prompt physical bid/offer spreads at similar levels to Wednesday with Dec RB1 trading at $105.

Dec RB buyers in India on the fence and expecting to procure ~ $104/mt levels, few cases of reneging RB contracts were heard out of China yesterday. Indo offers seen floating for 4600 gar at $67/mt;4200 gar: $55/mt & 53/51 adb: 47 without much traction from buyers in India this week.(*)

globalCoal trades this week

Product		Expiry	Price	Volume	Origin	DeliveryPoint	EFP
17/11/2011	Phys RB1	Dec'11	$ 105.00	50000	ACPRS	Ams/Rot	EFP
17/11/2011	Phys API#4 Index	Q1'12	-$ 0.80	150000	?	?	?