Market overview from globalCoal for October 7

Another day of uncertainty stifled the markets today though, for the coal market at least, China's return from it's Golden Week holiday on Monday may provide some stimulus. Financial coal values edged lower by around $0.25 along the API2 & API4 curves in thin trading. The physical market remains stilted and uncertain as to price direction, though an index qualifying trade were concluded in the DES ARA hub, at $119.00/t DES AR for December delivery. Meanwhile, front month Brent crude traded sideways ending the day (@ 17:05) up $0.16/bbl at $105.89/bbl.

Subdued trading during Asian hours and the physical market remains thin. However, Nov'11 NEWC generated some interest for both bid and offer, which are slightly higher than yesterday's. The return of Chinese buyers next Monday after the week long holiday should provide a cause for optimism. (*)

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
07/10/2011	Phys ARA (DES)	Dec'11	$ 119.00	50000	ACPRS	Ams/Rot	EFP