Market overview from globalCoal for September 20

A fairly busy session in the Richards Bay market saw numerous deals for October loaders concluded, in the range of $111.75-112.25/t, for varying sizes. November DES AR was heard trading at $122.50 - flat to yesterdays level. In paper, Cal 12 API2 and API4 closed around $126.25/t and $121.70/t respectively - both virtually unchanged day-on-day. Oil managed to recover some of yesterday's losses, with front month Brent crude climbing to $110.69/bbl - up $1.55/bbl by 17:11 BST.

Spot demand is still to come back in the Indian market for Indo origin coal, while there were a spate of tenders which were concluded in the recent past weeks by utilities. High stocks levels at various ports cited as main reasons by market participants. Offers for various gcv coal : 53/51 adb TM: 39/41 at around $ 47-48/mt, 4200 gar ~ 58/mt, 4600 gar ~ 84/mt FOB levels. 63/61 adb is ~ 90s. An approximate of 15 day waiting period reported at Vizag port & 18 days at Paradip port. (*)

globalCoal trades this week

Product		Expiry	Price	Volume	Origin	Delivery Point	EFP
19/09/2011	Phys ARA (DES)	Nov'11	$ 122.50	50000	ACPRS	ROTT	EFP
19/09/2011	Phys RB1	Dec'11	$ 117.15	50000
20/09/2011	Phys RB1	Oct'11	$ 112.35	75000
20/09/2011	Phys RB1	Oct'11	$ 111.75	11000