Market overview from globalCoal for October 24
Tuesday, October 25 2011 - 01:55 AM WIB
Today saw a relatively quiet start to the week with coal finding some upward momentum early on from outside factors such as oil and gas. The Euro also posted marginal gains on the back of optimism around the current EU summit. Brent crude saw some further buying interest and posted strong gains of just over $1.80/bbl. Coal markets in general followed this lead gaining ~$1 on the API#2 and $0.75 on the FOB markets.
The market continues to be bid in the front end at $ 117.25/mt in Newcastle. However, the market mood is still quiet and watching bid prices ex-China continue to fall. Prices for 5500 NAR have been rumoured to be valued at ~$ 98/mt currently and offers are still seeking bids. (*)
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 24/10/2011 | SWAP NEWC Index | Q1'12 | $ 117.00 | 15000 | |||
| 24/10/2011 | Phys API#2 Index (DES) | Q1'12 | $ 0.00 | 150000 | ACPRS | Ams/Rot | |
| 24/10/2011 | SWAP NEWC Index | Q1'12 | $ 117.50 | 15000 | |||