Market overview from globalCoal for September 21

Value picked up today, with October RB trading at $112.25/t FOB - up $0.50/t on a comparable deal concluded yesterday. Prompt DES AR tonnes were heard trading around $$.50/t higher day-on-day. During Asian hours, a Newcastle deal for November loading changed hands at $122.50/t FOB - down from yesterday's best offer 123.75/t. Oil posted a second consecutive session of gains, with front month Brent crude up by $1.57/bbl at $16.57 BST to sit at $112.11/bbl.

Newcastle coal market saw a return to liquidity in the physical, with two trades done in Asia - Nov'11 newc at 123.50 and Dec'11 newc at -0.50 to the gC index. General opinion is the Newcastle market remains fairly tight however, with few bids and offers behind these deals. In the Indonesian market coal availability is evident, yet prices are holding firm for Q4'11, with renewed Chinese possibly underpinning the sub-bituminous market. (*)

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
21/09/2011	Phys NEWC (FOB Newcastle)	Nov'11	$ 123.50	50000			EFP
21/09/2011	Phys NEWC Index	Dec'11	-$ 0.50	75000
21/09/2011	Phys RB1	Oct'11	$ 112.25	75000