Market overview from globalCoal for October 10

A quiet start to the week saw physical markets barely move, with November Richards Bay tonnes changing hands at $112/t FOB - down $0.25/t from the previous comparable trade. Conversely, December DES tonnes traded higher than last weeks level at $119.25/t DES AR - up $0.25/t. Paper saw gains of around $0.25/t across the front end of all hubs, while the back end saw slightly more of an increase - nearer $0.50/t. In other markets, stocks and other commodities rallied on the back of positive US economic data and a pledge from European leaders to unveil measures to stabilise the eurozone. Front month Brent crude gained $2.97/bbl by 16:47 BST to sit at $108.85/bbl, while the FTSE 100 saw 90 points added (1.70%), valued at 5393.51 near close of play.

Markets shook off the turmoil of last week and equity markets in the Asian zone were in the positive. Coal remained mainly flat though, with bid interest in November and December cargos at 121.75 and 120.00, around the same levels as Friday. Many are bearish on Indonesian coals with evidence that suppliers and traders are looking for homes for homogeneous coals. There were some reports that Chinese stockpiles had fallen by 25% last week, due to the public holidays, so interest from buyers is assumed to be high this week. (*)

Product		Expiry	Price	Volume	Origin	Delivery Point	EFP
10/10/2011	Phys RB1	Nov'11	$ 112.00	75000
10/10/2011	ICE gC NEWC Coal Future	Q1'12	$ 120.85	150000