Market overview from globalCoal for September 12
Tuesday, September 13 2011 - 01:16 AM WIB
Today saw prompt DES ARA values eroded, while conversely, prompt RB1 tonnes traded higher than last week's closing levels. Nov DES was heard trading last at $123.65/t DES AR - down $0.85 from Friday's traded price, while November RB1 tonnes changed hands $0.50/t higher than on Friday, at $117.25/t FOB. Paper lost ground across all hubs, with Cal 12 API2 valued around $0.50/t lower near close of play, while the same contract on API4 was down by nearer $1.00/t. Oil recovered having lost ground early on, with front month Brent crude up $0.55/bbl by 17:00 BST to sit at $113.35/bbl.
Equity markets tumbled in Asia today on further European debt concerns last Friday and over the weekend. While it was a public holiday in China today, other markets were down by around 2-3%. The newc market was down as well, with the November mid-point 123.50 - 75 cents lower than Friday's close. The recent tender in Korea has borne no fruit for some, a possible indicator that Asian markets are well supplied. (*)
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 12/09/2011 | Phys RB1 | Nov'11 | $ 117.00 | 50000 | EFP | ||
| 12/09/2011 | Phys RB1 | Nov'11 | $ 117.25 | 50000 | |||