Market overview from globalCoal for November 21
Tuesday, November 22 2011 - 01:43 AM WIB
After Friday's minor recovery the tone was back to bearishness today. With further fears over both US and European debt and France's credit rating seemingly at risk equities and the Euro fell. Commodities fell steadily through the day as well with metals and oil both lower. Front month Brent fell by ~$1.25/bbl to finish around $106.30/bbl. Both paper and physical coal markets fell through the day with the Cal12 product lower by $1.50 across the 3 main trading hubs.
Most market participants are balanced for the remainder of this year but we are starting to see more interest for Q1'12 phys newc. During Asian hours, Feb'12 saw a tight spread of $113.50/$114.25 but no deal was concluded. (*)
globalCoal trades this week
Product |
Expiry |
Price |
Volume |
Origin |
Delivery Point |
EFP |
|
21/11/2011 |
Phys RB |
1Dec'11 |
$ 103.50 |
50000 |
|
|
EFP |