Market overview from globalCoal for September 29

The coal market consolidated today with limited direction and volatility meaning we only saw limited gains across the markets. API#2 finished the day higher by ~$0.20 whilst a slight drop in the implied freight market meant the FOB markets saw a marginally greater rise of ~$0.35. Brent traded higher through the day gaining over $1.50/bbl by the end of trading at $105.45/bbl although this failed to inspire further movement in coal.

Asian coal market was relatively quiet today. With Golden week in China next week, there was little appetite to buy and most sellers locking in laycans before the end of the week. Indian customers are unseen at present, well stocked and no spot requirements from either RB or Indonesia evident. (*)

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
28/09/2011	Phys ARA (DES)	Dec'11	$ 121.30	50000	ACPRS	Ams/Rot	EFP
29/09/2011	Phys NEWC (FOB Newcastle)	Nov'11	$ 122.50	25000
29/09/2011	Phys NEWC (FOB Newcastle)	Nov'11	$ 122.75	25000			EFP
29/09/2011	Phys RB1	Dec'11	$ 114.75	75000
29/09/2011	Phys ARA (DES)	Dec'11	$ 121.90	50000	ACPRS	Ams/Rot	EFP