Market overview from globalCoal for October 6

The wider equity and commodity markets enjoyed another positive day after recent falls. Financial coal values gained around $0.80 down the curve across the three main indices. The physical market remains moribund though near-side Richards Bay continues to see some action. Meanwhile, front month Brent crude traded in a $2 range before ending the day (@ 17:00) up $0.35 at ~103.10/bbl.

With about 11 mill tonnes stocks at port various ports, post monsoons Indian market still to pick up, demand is few and far between except sporadic purchases from major cement producers. Indo coal prices have not been following the RB coal trend and producers continue to hold the prices. It is expected that liquidation of stocks may take about two months and restocking may happen. A recent December 63/61 adb blended coal in 50kt cargo changed hands at USD 92/mt, sold to a major cement producer in southern India. (*)

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
05/10/2011	SWAP NEWC Index	Q1'12	$ 119.75	30000
05/10/2011	SWAP NEWC Index	Q1'12	$ 119.25	15000
05/10/2011	ICE gC RB / NEWC Coal Future	Q4'11	-$ 6.00	165000
06/10/2011	Phys RB1	Nov'11	$ 112.25	50000
06/10/2011	Phys RB1	Nov'11	$ 112.25	125000