Tue Apr 20, 2010 9:30pm IST
LONDON, April 20 (Reuters) - Coal prices for cargoes delivered into ARA and FOB South Africa's Richards Bay rose by around $1.00 on Tuesday in active trading, boosted by stronger oil prices, traders said.
A rise in activity on the coal swaps market spurred a flurry of physical trades and drew out a much larger number of counterparties than usual, traders and brokers said.
"Oil bounced and the swaps moved up sharply, that's the only reason for the rise. But it did attract a lot more players of all varieties," one broker said.
Continued strong demand from Asia plus emerging demand for spot cargoes from Europe had made the market prone to volatility, traders said.
"When there is European buying, it's tending to have a lot of impact on prices," one trader said.
TRADES
A May loading South African cargo traded at $87.20 a tonne FOB Richards Bay on globalCOAL.
A June loading South African $88.00/T. An August loading South African cargo traded at $87.50/T.
A July delivery DES ARA cargo traded at $77.00, up $1.00.
PRICES
A May delivery DES ARA cargo was bid at $76.80 a tonne on globalCOAL. A June cargo was bid at $76.25.
A July cargo was bid at $77.35 and offered at $80.50 a tonne DES ARA, up just over $1.00.
A May loading South African cargo was offered at $87.35 a tonne FOB Richards Bay, also up $1.00.
A June loading cargo was bid at $87.00 and offered at $88.50 a tonne, up $1.00.
For the latest oil market report please click on [O/R]. The latest UK power and gas report can be found at [NG/GB].
Source: http://in.reuters.com/article/oilRpt/idINLDE63J1XA20100420?sp=true
LONDON, April 20 (Reuters) - Coal prices for cargoes delivered into ARA and FOB South Africa's Richards Bay rose by around $1.00 on Tuesday in active trading, boosted by stronger oil prices, traders said.
A rise in activity on the coal swaps market spurred a flurry of physical trades and drew out a much larger number of counterparties than usual, traders and brokers said.
"Oil bounced and the swaps moved up sharply, that's the only reason for the rise. But it did attract a lot more players of all varieties," one broker said.
Continued strong demand from Asia plus emerging demand for spot cargoes from Europe had made the market prone to volatility, traders said.
"When there is European buying, it's tending to have a lot of impact on prices," one trader said.
TRADES
A May loading South African cargo traded at $87.20 a tonne FOB Richards Bay on globalCOAL.
A June loading South African $88.00/T. An August loading South African cargo traded at $87.50/T.
A July delivery DES ARA cargo traded at $77.00, up $1.00.
PRICES
A May delivery DES ARA cargo was bid at $76.80 a tonne on globalCOAL. A June cargo was bid at $76.25.
A July cargo was bid at $77.35 and offered at $80.50 a tonne DES ARA, up just over $1.00.
A May loading South African cargo was offered at $87.35 a tonne FOB Richards Bay, also up $1.00.
A June loading cargo was bid at $87.00 and offered at $88.50 a tonne, up $1.00.
For the latest oil market report please click on [O/R]. The latest UK power and gas report can be found at [NG/GB].
Source: http://in.reuters.com/article/oilRpt/idINLDE63J1XA20100420?sp=true
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