Market overview from globalCoal for September 26
Tuesday, September 27 2011 - 12:57 AM WIB
Markets started the week by softening, with December Richards Bay trading $0.50/t lower than Friday's best offer. December DES tonnes were heard changing hands $0.75/t lower than Friday's level by close of play. Oil posted a volatile session, dropping as low as $101.66/bbl, before rebounding in the afternoon to sit at $104.58 by 16:48 BST - up $0.61/bbl from Friday's close. In stocks, US and European markets reversed early losses during the afternoon, only to falter again near close of trading BST.
Continued bearish sentiment drove both the physical and financial coal markets lower today, with around $1.50 shed from the cal 12 newc swap market in Asian hours. Talk of several Richards Bay cargos sold into China late last week at levels circa $129CIF dominated market news, on the back of slight increases in Chinese local coal prices now make this arbitrage possible. (*)
globalCoal trades this week
| Product | Expiry | Price | Volume | Origin | Delivery Point | EFP | |
| 26/09/2011 | SWAP NEWC Index | 2012 | $ 121.50 | 60000 | |||
| 26/09/2011 | Phys RB1 | Q1'12 | $ 117.50 | 60000 | |||
| 26/09/2011 | Phys RB1 | Dec'11 | $ 115.50 | 75000 | |||