Market overview from globalCoal for October 11
Wednesday, October 12 2011 - 01:52 AM WIB
Coal markets failed to pick up in terms of liquidity today, with prices again fairly unchanged. November Richards Bay tonnes were best seen $111.50-112.50/t , compared to yesterdays trade at $112.00/t FOB. A Cal 12 RB1 trade was completed late on at $116.50/t for 25kt per month. Renewed eurozone fears hit global stocks, while oil extended yesterdays gains, with front month Brent crude up $0.90/bbl by 17:05 BST to sit at $109.85/bbl.
Chinese buyers still far and few post holidays even though reports trickled in about coal price rise as Qiunhuangdao stockpiles plunges 25 pct; while Coal India shares fell as workers strike for better wages. One of the largest Aluminium smelters in India concluded a 65kt RB1 cargo at $ 131 CFR Dahej port this week, awarded to a Dubai based trader and a large Indian cement producer negotiating for a Nov delivery of RB1 coal under $ 126 CFR Krishnapatnam port at close of play today. (*)
globalCoal trades 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 | |||
| 11/10/2011 | Phys RB1 | 2012 | $ 116.50 | 300000 | |||