Market overview from globalCoal for November 22
Wednesday, November 23 2011 - 12:44 AM WIB
Coal saw minimal movement today, with no fixed price prompt deals reported. Jan DES was offered lower to $113.00/t, compared to $114/t yesterday, while December Richards Bay tonnes were offered down to $103/t FOB - $0.50/t lower than yesterday's traded level. Paper also made small losses, with Cal 12 API2 inching five cents lower, while the same contract for API4 shed nearer $0.20/t over the session. Oil headed slightly in the other direction, with front month Brent crude climbing $0.83/bbl to sit at $107.71/bbl near close of play.
Asian stocks fell following the failure of the congressional committee in reaching an agreement on cuts to reduce the US deficit. Affected by macroeconomic factors and lack of demand from China, the Asian coal market continues its descent. One of the largest utilities in China has ordered its power plants to stop buying coal until they have depleted their stockpiles, currently averaging about 20 days running. (*)
globalCoal trades this week
Product |
Expiry |
Price |
Volume |
Origin |
Delivery Point |
EFP |
|
21/11/2011 |
Phys RB |
1Dec'11 |
$ 103.50 |
50000 |
|
|
EFP |