Market overview from globalCoal for November 30

After a weaker start coal prices moved higher today on the back of a weakened US$ helping to push US$ denominated markets higher. A concerted effort by six central banks to supply US dollars to the financial system saw the US$ fall 125 points and 130 points against the GBP and Euro respectively. On the back of this most commodity markets posted gains with oil and metals higher. At one point Brent was trading at $112/bbl but fell back late on to close just under $111/bbl. All the main coal hubs held onto the majority of their gains and the API#2, API#4 and NEWC markets all finished higher by ~$1.35 on yesterday's close.

Asian markets fell for the first time this week after S&P's downgraded ratings of several American banks. Tightness persists in the prompt Newc market. During Asian trading time, an improved bid for Jan phys newc at $108/mt from $105/mt the previous session failed to attract any sellers while the best offer was a Feb'12 cargo for $110.50/mt. In Indonesia, the collapse of the suspension bridge at Mahakam river has not yet impacted prices but industry participants warned that further delays would surely cause coal prices to increase. (*)

globalCoal trades this week

	Product	Expiry	Price	Volume	Origin	Delivery Point	EFP
30/11/2011	SWAP NEWC Index	Q1'12	$ 111.00	15000
30/11/2011	SWAP NEWC Index	Q1'12	$ 111.00	15000
30/11/2011	SWAP NEWC Index	Q1'12	$ 111.00	15000
30/11/2011	SWAP NEWC Index	Q1'12	$ 110.60	15000
30/11/2011	SWAP NEWC Index	Q1'12	$ 111.35	15000
30/11/2011	SWAP NEWC Index	Q1'12	$ 111.35	15000