Market overview from globalCoal for November 18

Today saw a small-scale recovery in European currencies which in turn helped to marginally drive down US$-denominated commodities. The financial coal market had a very quiet end to the week and values on the benchmark Cal 12 contracts fell by ~$0.20 across the three main indices today. The physical market reflected this although Dec RB traded late on $0.50 down at $104.50 . Meanwhile, front-month Brent crude ticked off $0.30 to end the day (@ 17:00) at ~$107.90/bbl.

gC Newc continues its downward trend in line with Asian stock market. The month-to-date index ended the week 4.3% lower than last month as of close of business in Asia. Most are expecting coal prices to continue to be influenced by macroeconomics factors. China has significantly reduced their appetite for imports, and tender prices into North Asia have fallen ~$5 this month. Japan is still not back in the spot market since the earthquake. India's coastal regions have plenty of coal, and the dramatic swing in the Rupee/US has caused several traders and end users to reconsider imports in the near term.(*)

globalCoal trades this week

Product		Expiry	Price	Volume	Origin	Delivery Point	EFP
18/11/2011	Phys RB	1Dec'11	$ 104.50	75000	?	?	EFP

?