Market overview from globalCoal for November 7
Tuesday, November 8 2011 - 01:50 AM WIB
Coal markets posted reasonable gains today as oil and commodity markets found some upward momentum. Despite ongoing issues in the Eurozone unsettling currency markets the Euro only fell slightly with minimal impact on other markets. Brent oil posted strong gains with values climbing through the day by over $2/bbl to $114/bbl. The main gains were in the API#2 hub as this led the way higher early on, by close of play it had gained ~$1.25. The FOB markets did play catch up later on with API#4 and NEWC gaining ~$1 and $0.80 respectively.
Values for Phys NEWC prompt were slightly higher as of 3:00 p.m. Singapore time at $ 117.65/mt in a quiet market given the holiday in Singapore and elsewhere in Asia. The Chinese continue their quiet stance in the marketplace and the supply of offers into the recent tenders suggests there is still some coal for sale in the prompt markets. Crude markets were up ~$ 1.00/bbl during Asian hours with Brent pricing at $ 113.00/bbl. (*)
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 07/11/2011 | Phys RB1 | 2012 | $ 115.50 | 300000 | |||