Market overview from globalCoal for September 15
Friday, September 16 2011 - 01:08 AM WIB
As central banks came out in support for Greece, the Euro rallied resulting in US$ denominated commodities making gains on the day. Financial coal values rose by $1 all the way out on the curve and across the three main indices. Although fairly quiet, the physical market followed suit with index-qualifying trades being concluded in the DES ARA and Richards Bay hubs at higher levels than yesterday. Meanwhile, front-month Brent crude firmed again, adding $2.50 to end the day (@ 17:00) at ~114.90/bbl.
A Couple of Indian private sector power utilities closed submission of tenders today for 200kt, gcv 5000 arb & 100 kt, gcv 4200 arb coal spec. respectively. Present offers for Indo coal for gcv 53/51 TM 39/41 are around $50/mt, gcv 4200 arb for $56-57/mt & gcv 4800 arb for $69-70/mt. On the RB front, an Oct RB1 reported to have been traded at $ 113/mt in 75 kt in India. (*)
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 | ||
| 14/09/2011 | Phys ARA (DES) | Nov'11 | $ 121.50 | 50000 | ACPRS | Ams/Rot | EFP |
| 15/09/2011 | Phys ARA (DES) | Nov'11 | $ 122.75 | 50000 | ACPRS | Ams/Rot | EFP |