Market overview from globalCoal for September 8

Coal lost further ground today, with December Richards Bay tonnes trading $1/t lower day-on-day, while October value sank also, with $118.60/t changing hands. DES ARA was heard trading at $125.75/t DES AR for Nov and Dec delivery, also down $1/t on yesterdays deals . Oil ticked lower today, with front month Brent crude losing $0.62/bbl by 17:15 BST to sit at $115.18/bbl.

Product prices during Asian hours were largely unchanged from yesterday with value with Nov'11 Phys NEWC at $ 123.85/mt and Dec'11 Phys NEWC at $ 124.85/mt. In addition, the crude market is relatively flat as well with front month Brent at $ 115.76/bbl (1:35pm Singapore time). News out of China is that restocking is expected to take place in Q4'11 and the key question will be whether domestic prices support imports. The current spread between the bids and offers delivered into China is wide for now, but word that some lower CV deals (sub-4000 NAR) were concluded during the recent conference. (*)

globalCoal trades this week

Product		Expiry	Price	Volume	Origin	Delivery Point	EFP
05/09/2011	Phys RB1	Dec'11	$ 121.50	75000
05/09/2011	Phys ARA (DES)	Dec'11	$ 128.00	50000	ACPRS	Ams/Rot	EFP
06/09/2011	Phys NEWC (FOB Newcastle)	Oct'11	$ 123.50	25000
06/09/2011	Phys ARA (DES)	Nov'11	$ 127.00	50000	ACPRS	Ams/Rot	EFP
06/09/2011	Phys NEWC (FOB Newcastle)	Dec'11	$ 125.25	25000			EFP
06/09/2011	Phys NEWC (FOB Newcastle)	Dec'11	$ 125.00	25000
06/09/2011	ICE gC NEWC Coal Future	Sep'11	$ 123.70	5000
06/09/2011	ICE gC NEWC Coal Future	Sep'11	$ 123.60	5000
07/09/2011	Phys NEWC (FOB Newcastle)	Oct'11	$ 123.50	25000
07/09/2011	Phys RB1	Dec'11	$ 121.00	75000			EFP
07/09/2011	Phys RB1	Dec'11	$ 121.00	75000
08/09/2011	Phys RB1	Dec'11	$ 120.00	75000			EFP
08/09/2011	Phys RB1	Oct'11	$ 116.80	50000
08/09/2011	Phys RB1	Nov'11	$ 118.95	50000			EFP