Market overview from globalCoal for September 27
Wednesday, September 28 2011 - 02:08 AM WIB
The coal market bounced today after several bearish days. It was assisted by a more bullish tone on the wider commodity markets with both oil and metals gaining strongly. A weaker US$ also helped US$ denominated markets and provided a boost to coal. Brent was trading higher by over $2.50/bbl by the end of trading at $106.45/bbl whilst Gold was higher by $26/oz as many markets corrected after a negative few days. Although some prompt physical markets struggled to post gains on healthy supply we still saw gains whilst the calendar products pushed higher by ~$1.25 across the main coal hubs helping reverse the losses of last week.
After yesterday's volatile movements in the energy markets, the Asian trading zone took a breather, with equity markets climbing back from yesterday's bump. Most now believe the Japanese settlement is now factored into the market, evident in the flat forward curve for cal'12 gC Newc and beyond. (*)
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 | 75000 | |||
| 26/09/2011 | Phys RB1 | Dec'11 | $ 115.50 | 75000 | |||