Market overview from globalCoal for September 13
Wednesday, September 14 2011 - 01:29 AM WIB
Richards Bay value slipped further today, with late deals for Nov and Dec loaders concluded at $115.75/t and $117/t respectively - down $1.25/t on the previous Nov deal. In the DES market, Nov and Dec tonnes changed hands at $123.25 - both flat to yesterday's level. Earlier in the session, Nov Newc traded at $123.25/t - down a touch from yesterday's best market of $123.50/123.75/t. Oil slipped today, with front month Brent crude losing $0.92/bbl by 17:18 BST to sit at $111.33/bbl.
Tightened liquidity in the market and a fragile global economic scenario has had an impact in India across the core sector production, low off take of coal by end-users as big traders reported pushing back their laycan as stocks continue pile up at various ports. Heavy congestion reported at Kandla with 45 vessels in waiting, Vizag reported 10 day waiting and Paradip was reported to have a 20 day waiting period. (*)
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 | |||
| 13/09/2011 | Phys NEWC (FOB Newcastle) | Nov'11 | $ 123.25 | 25000 | EFP | ||