Market overview from globalCoal for October 4

Persistent fears over debt contagion in Europe weighed heavily on commodities once again. Financial coal values made significant losses, off by around $1.75 on the benchmark Cal 12 contracts across the three main indices, although the front ends continue to hold up better as the curve flattens. The physical market tracked the paper downwards in thin trading, with nearside Richards Bay again dominating interest. Meanwhile, front month Brent crude dipped below the $100 for the first time in 8 months before recovering to end the day (@ 17:00) down $0.50 at ~101.20/bbl.

Traders look forward for China to finish holidays with mixed opinions on how its appetite will be, while Indian stocks still remain higher than usual, which combined with the recent stocks in the Richards Bay market, is seeing little buying activity out of that origin. Three Indian ports viz Vizag, Paradip & Kandla reported vessel congestion with about 12 - 15 days waiting period. (*)

globalCoal trades this week

Product		Expiry	Price	Volume	Origin	Delivery Point	EFP
03/10/2011	SWAP NEWC Index	Dec'11	-$ 0.75	25000
03/10/2011	SWAP NEWC Index	Dec'11	-$ 0.75	25000
03/10/2011	Phys RB1	Nov'11	$ 112.50	75000
04/10/2011	SWAP NEWC Index	Oct'11	$ 120.00	5000
04/10/2011	SWAP NEWC Index	Oct'11	$ 120.00	5000
04/10/2011	SWAP NEWC Index	Oct'11	$ 120.00	5000
04/10/2011	SWAP NEWC Index	Oct'11	$ 120.00	5000
04/10/2011	SWAP NEWC Index	Oct'11	$ 120.00	5000
04/10/2011	SWAP NEWC Index	Oct'11	$ 120.00	5000
04/10/2011	SWAP NEWC Index	2012	$ 119.75	60000
04/10/2011	SWAP NEWC Index	Oct'11	$ 120.50	5000
04/10/2011	Phys API#2 Index (DES)	Q1'12	-$ 0.50	150000	ACPRS	Ams/Rot
04/10/2011	Phys API#2 Index (DES)	Q1'12	-$ 0.50	150000	ACPRS	Ams/Rot
04/10/2011	Phys RB1	Q1'12	$ 115.00	75000