Market overview from globalCoal for September 9

The week ended with values tumbling across physical and paper markets, as oil and global equities also took a hit. November DES tonnes were heard trading at $124.50/t DES AR - down $1.25/t on yesterday's trade, while November Richards Bay changed hands at $116.75/t FOB - $2.10/t lower than yesterdays traded level. December RB also traded, down $2/t to $118/t FOB. Front month Brent crude shed $2.42/bbl over the day, sitting at $112.13/bbl by 16:24 BST. In other markets, the Euro fell to a six-month low against the US dollar, while the FTSE 100 lost 82.56 points (1.55%) over the day.

Bid / offer spread of about four USD per tonne has been seen for various GCV Indo coals being offered into India recently, while Chinese buyers are reported making prompt spot purchases w/out being seen as aggressive and a 4200 NAR coal being traded at USD 80/mt CFR into China by a European trader out of their Asian office. With Monsoon season ending in India next week, prices of Indo coals likely to harden over coming weeks. (*)

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
09/09/2011	Phys RB1	Dec'11	$ 118.00	25000
09/09/2011	Phys RB1	Nov'11	$ 116.75	50000