Market overview from globalCoal for September 23

A turbulent day in global markets saw commodities and stocks post volatile sessions. In coal, October Richards Bay was again a busy contract, with trades concluded in the range of $111-112/t FOB. This compares to a $113.50/t trade done yesterday for the same loading period. Nov Richards Bay traded at $114.05/t, versus yesterdays deal at $114.70/t FOB. In the European market, December DES tonnes traded at $121/t DES, down from $122.40/t yesterday. Oil moved around heavily intra-day, sitting at $105.09/bbl - down $0.40/bbl by 17:29 BST - having hit a low of $103.43/bbl during the session, and a high of $107/bbl.

In Asian hours, Newcastle traded at $123 for December, $1 less than when it last traded. Market sentiment remains bearish, in response to continued weak equity markets in Europe and Asia. Indonesian prices also took a hit today with reports of several sub -bituminous cargos cancelled by Chinese traders to wait to see how weak the market remains. (*)

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
22/09/2011	Phys ARA (DES)	Dec'11	$ 122.40	50000	ACPRS	ROTT	EFP
23/09/2011	Phys NEWC Index	Dec'11	$ 123.00	25000			EFP
23/09/2011	Phys ARA (DES)	Nov'11	$ 114.05	75000			EFP
23/09/2011	Phys ARA (DES)	Oct'11	$ 111.00	150000