Market overview from globalCoal for October 14

A quiet end to a quiet week saw little physical business concluded. A December DES deal was heard trading at $117/t DES AR, down from the previous trade at $119.50/t DES AR on Wednesday. Paper edged higher over the day, with Cal 12 API2 and API4 up around $0.25 and $0.20/t respectively. Crude oil rose to a month high on the back of expected tight supply, with front month Brent up $2.87/bbl to $113.98/bbl by 16:43 BST.

Indo producers still holding to their prices across various grades even though demand is tepid from China and Indian stock at various ports climb back to around 12 mill tonnes. Grim scenario reported from power utilities leading to severe power outages throughout. Lower supply, higher turnaround time as well as unloading constraints have led 44 thermal power stations out of 86 in the country to face 'critical' coal stock of less than seven days as on date, ironical in view high volume of coal at ports. Apparently the evacuation of coal is a major issue being cited. (*)

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
12/10/2011	Phys NEWC (FOB Newcastle)	Nov'11	$ 121.75	25000			EFP
13/10/2011	Phys RB1	Nov'11	$ 112.00	25000			EFP
14/10/2011	SWAP NEWC Index	Q4'12	$ 120.00	15000
14/10/2011	SWAP NEWC Index	Q4'12	$ 119.25	15000
14/10/2011	SWAP NEWC Index	Q4'12	$ 119.25	15000