Market overview from globalCoal for September 30

In a subdued end to the week coal markets saw limited action on both physical and paper. With minimal direction being provided by fundamental coal factors coal took its lead from slightly weaker oil and gas markets. Brent finished the week losing ~$0.50/bbl which helped coal to see values drop by $0.65 in the prompt and ~$1 on the calendar products.

Some positive signs out of Europe overnight took equity markets a little higher today, with thermal coal markets tracking flat on weak trade. The dec'11 newc was bid and offered in similar ranges to London close. With market speculation pointing to a significant lack of buy interest from North Asia buyers at the moment - due to oversupply in some markets and holidays starting tomorrow in China, prices in Asia may not be supported in the near term considered by many. (*)

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
30/09/2011	SWAP NEWC Index	2012	$ 122.50	60000
30/09/2011	Phys RB1	Nov'11	$ 113.75	75000