Market overview from globalCoal for November 2
Thursday, November 3 2011 - 01:34 AM WIB
Coal prices regained some of yesterday's losses during the afternoon, despite a weaker start. Richards Bay tonnes for January loading were best seen $109.25/110.75/t FOB, while a January loading Newcastle panamax traded at $116.50/t FOB during the morning, compared to yesterday's best bid of $117.50/t FOB. Prompt DES markets were quieter, with fixed price bids and offers for ACPRS tonnes very ephemeral in nature. Paper values finished the day stronger, with Cal 12 API2 & API4 contract valued near $117/t and $113.10/t - up around $0.80/t and $0.65/t respectively. Oil also finished the day higher, with front month Brent crude up $0.48/bbl by 17:15 GMT to sit at $110.02/bbl.
Further declines in the physical market in Asia, with Newcastle down $1 from yesterday in the prompt. Chinese ports appear well stocked with reports of large stockpiles that will meet energy needs well into 2012. Weaker prices form sub bituminous coals from Indonesia were evident with the 4900nar offered at $85 basis 4900nar in Asian hours. (*)
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 02/11/2011 | Phys NEWC (FOB Newcastle) | Jan'12 | $ 116.50 | 75000 | EFP | ||
| 02/11/2011 | Phys NEWC (FOB Newcastle) | Dec'11 | $ 0.00 | 25000 | |||