Market overview from globalCoal for November 24

Today saw yet another day of losses in the physical and financial markets, with a Jan DES cargo trading at $111.65/t DES Amsterdam, compared to yesterday's deal at $112.25/t DES AR. December Richards Bay tonnes also sank lower, trading late on at $99.50/FOB, versus yesterday's last deal of $101.50/t FOB. Paper was also lower over the day, with Cal 12 API2 marked around $0.60/t lower, while the same contract on API4 lost nearer $1.25/t. Oil didn't follow coal's descent, with front month Brent crude gaining $0.58/bbl to sit at $107.60/bbl near the end of the session.

Bearish sentiments continue to prevail in the Indian market even though RB continues to soften. Many cement plants operating at about 50 pct of their installed capacity are of the view that RB prices may touch $100/mt soon, which could prove attractive. On the Indo side, lower offers are not good enough yet to attract buyers, with market participants reporting 53/51 adb TM: 39/40 ~ $ 46/mt, 4200 gar ~ $62/mt & 5000 gar ~ $74/mt being shown. (*)

globalCoal trades this week

	Product	Expiry	Price	Volume	Origin	Delivery Point	EFP
21/11/2011	Phys RB1	Dec'11	$ 103.50	50000			EFP
23/11/2011	Phys NEWC Index	Q1'12	-$ 0.10	75000
23/11/2011	Phys ARA (DES)	Jan'12	$ 112.25	50000	ACPRS	Amst	EFP
23/11/2011	Phys RB1	Dec'11	$ 100.75	50000
23/11/2011	Phys RB1	Dec'11	$ 101.50	50000
24/11/2011	Phys ARA (DES)	Jan'12	$ 111.65	50000	S	Amst	EFP
24/11/2011	Phys RB1	Dec'11	$ 99.50	50000