Coal Market Report
Friday, 2 February 2018
Daily Coal Indices
Product Week TD Daily % Ch Month TD Daily % Ch Best Index Bid Best Index Offer
NEWC 107.14-0.35 %107.14-0.35 %107.00101.80
DES ARA 91.80-0.22 %91.80-0.22 %92.0087.50
RB 96.66-0.19 %96.66-0.19 %96.5094.00
INDO 4200 44.980.00 %44.980.00 %44.0051.00

Market Overview
A quiet end to the week in the physical market saw the RB1 and DES markets devoid of any real action. We did see front end phys NEWC go through, as detailed below. Today finally saw the paper market arrest a recent run of four consecutive days in the red, with gains made across the board. Cal 19 API2 was $1.35/t higher, while the Q3'18 API4 was $0.40/t firmer. Oil markets headed the other way, with front month Brent shedding $1.55/bbl to sit at $68.10/bbl near close of play.

From the Asian Desk
After several continuous active sessions, the Physical NEWC market ended the week on a subdued note. Mar18 was best bid at $104.25/mt in 25kt before being pulled, and offered $109.95/mt in the same size. At the back of the index window, May18 was best offered at $103.00/mt in 50kt ND. In the index linked market, Mar18 was bid at +$2.00/mt in 25kt and offered at +$2.50/mt in 75kt ND. In the HA 5500 market, an end Feb18 loading cargo was offered at around API5 +$3.00/mt in 125 kt. The Zhengzhou Commodity Exchange (ZCE) 1805 contract decreased by 4.2 CNY ($0.66) to close at 660.4 CNY ($104.00). The vessel queue at PWCS currently stands at 12, while the turnaround time is at 1.6 days.

From the Met Desk
It was a quiet end to a busy week which saw two HCCA Unbranded trades, first at $215.0 for Feb followed by $220.0 for March, both in 75kt. Today a March Branded offer at $272.0 in 75kt was the only marker as expectations strengthen following the increase in the traded price this week.

globalCOAL Thermal Coal Trades this Week
  Product Expiry Price Volume Origin Delivery Point Add.Terms
29/Jan/2018Phys NEWC (FOB Newcastle)Mar'18$ 109.0025,000   
30/Jan/2018Phys RB1Mar'18$ 98.0050,000   
31/Jan/2018Phys RB1Apr'18$ 96.0050,000   
01/Feb/2018Phys NEWC (FOB Newcastle)Mar'18$ 108.0025,000   
01/Feb/2018Phys RB1Mar'18$ 96.0050,000  EFP 
02/Feb/2018Phys NEWC (FOB Newcastle)Mar'18$ 107.5025,000   

globalCOAL Metallurgical Coal Trades this Week
  Product Expiry Price Volume Add.Terms
30/01/2018Phys HCCA (FOB Aus)Feb'18$ 215.0075,000ND 
01/02/2018Phys HCCA (FOB Aus)Mar'18$ 220.0075,000ND 

Recent Coal Indices
Weekly 05 Jan 12 Jan 19 Jan 26 Jan 02 Feb
NEWC105.25106.27106.88107.42107.14
DES ARA96.6996.3796.9896.0891.80
RB 97.79100.1298.1498.5696.66
INDO 420044.9844.9844.9844.9844.98
globalCOAL Indices: Last 3 months (US$)
   NEWC    DES ARA  RB 
Monthly Sep 17 Oct 17 Nov 17 Dec 17 Jan 18
NEWC97.3397.1196.64100.81106.46
DES ARA90.4490.8093.2395.7096.53
RB91.9090.3291.5395.7098.65
INDO 420044.0844.9844.9844.9844.98
globalCOAL Weekly Indices: Last 12 Months
   NEWC    DES ARA  RB 

Coal Forward Prices
Representing best bids / best offers on the globalCOAL Platform Between 00:00 and 18:00 Local London Time
 
  Phys NEWC Phys NEWC Index Phys DES ARA Phys API#2 Index
  Bid Offer Mid Bid Offer Mid Bid Offer Mid Bid Offer Mid
Mar'18107.50109.95108.722.002.502.25-88.00-   
Apr'18      -87.50-   
May'18-101.80-         
Q4'18   1.802.752.27      
Q1'19   1.502.752.13      
2019   1.052.751.90      
 
  Phys HCCA Branded Div (FOB Aus) Phys HCCA Branded ND (FOB Aus) Phys HCCA (FOB Aus)  
  Bid Offer Mid Bid Offer Mid Bid Offer Mid Bid Offer Mid
Mar'18   -272.00-      

globalCOAL 6000 Physical Curves: Fixed Price
 
  Phys NEWC Phys ARA (DES) Phys RB
Feb'18105.7589.5095.25
Mar'18106.6587.8594.80
Apr'18103.3587.3593.80
May'18101.3586.9591.90
Q2'18101.4586.9091.90
Q3'1898.0086.6590.75
Q4'1895.0586.3090.05
Q1'1993.0085.2089.35
CAL-1989.9084.5088.50
CAL-2083.9580.5084.65
6000 Physical Curves: Fixed Price
   Phys NEWC  Phys ARA (DES)  Phys RB1
 Previous day 

globalCOAL 6000 Physical Curves: Index-Linked
 
  Phys NEWC Index Phys API#2 Index (DES) Phys gC RB Index
Feb'181.001.000.25
Mar'184.000.750.50
Apr'183.000.850.00
May'182.501.250.00
Q2'183.251.200.00
Q3'182.501.350.20
Q4'182.201.300.40
Q1'192.001.200.50
CAL-192.001.401.00
CAL-201.251.151.00
6000 Physical Curves: Index-Linked
   Phys NEWC Index  Phys API2# Index (DES)  Phys gC RB Index
 Previous day 

gC NEWC Futures Curve
 
  Bid Offer Mid Change
Feb'18104.50105.00104.750.50
Mar'18102.40102.90102.650.65
Apr'18100.10100.60100.350.35
May'1898.6099.1098.850.35
Q2'1897.9598.4598.200.40
Q3'1895.2595.7595.500.20
Q4'1892.6093.1092.850.15
Q1'1990.7591.2591.000.25
CAL-1987.6588.1587.900.50
CAL-2082.4582.9582.700.30
gC NEWC Futures Curve (Mid-Point)
 Previous day 

globalCOAL 5500 Physical Curves: Fixed Price
 
  Phys HA Aus Phys CFR Kemen/Liuheng
Feb'1888.0095.00
Mar'1885.5096.00
Apr'1884.0093.90
May'1883.0090.50
Q2'1883.5092.80
Q3'1882.5088.00
5500 Physical Curves: Fixed Price
     Phys HA Aus  Phys CFR Kemen/Liuheng
 Previous day 


globalCOAL 5500 Physical Curves: Index-Linked
 
  Phys NEWC Index (HA Aus) Phys API#5 Index (HA Aus)
Feb'18-8.502.00
Mar'18-8.851.50
Apr'18-8.301.50
May'18-7.901.00
Q2'18-6.651.50
Q3'18-5.251.00
5500 Physical Curves: Index-Linked
   Phys NEWC Index (HA Aus)  Phys API#5 Index (HA Aus)
 Previous day 


globalCOAL 4200 Physical Curves: Fixed Price
 
  Phys INDO 4200
Feb'1850.75
Mar'1850.00
Apr'1847.50
May'1847.50
Q2'1847.50
Q3'1847.00
4200 Physical Curves: Fixed Price
     Phys INDO 4200
 Previous day 

globalCOAL Met Coal Curves: Fixed Price
 
  Phys HCCA Phys HCCA Branded
Feb'18220.00222.00
Mar'18220.00222.00
Apr'18220.00222.00
May'18216.00218.00
Met Coal Curves: Fixed Price
     Phys HCCA  Phys HCCA Branded
 Previous day 


Freight Forward Prices
 
  RB - Rott Bol - Rott C5
  Bid Offer Mid Bid Offer Mid Bid Offer Mid
Feb 188.108.608.357.758.157.956.356.756.55
Mar 188.408.908.658.258.658.457.007.107.05
Apr 188.408.908.658.609.108.857.107.607.35
May 188.609.108.858.759.259.007.307.807.55
Q2 188.509.008.758.809.008.907.257.757.50
Q3 188.909.409.159.209.709.457.558.057.80
Q4 189.5010.009.7510.1510.5010.337.908.308.10
Source: SSY (Capesize Coal FFA Market Prices)

PWCS Vessel Queue
  Ships Off Port Av. Queue Days
24 Jan103.00
25 Jan63.30
26 Jan103.20
29 Jan73.20
30 Jan73.20
31 Jan73.20
01 Feb93.10
02 Feb121.60
Ships Waiting Off Port at PWCS
 
Source: HVCCC

Energy Market Data
  Unit Price US$ / GJ Equiv US$ / MMBtu US$ / MWh Equiv
DES ARA (1)US$ / mt91.803.653.8613.16
RB (1) + PM Freight RB-Rott (2)US$ / mt105.014.184.4115.06
NBP Gas - Front Month (3)p / th50.036.697.0524.08
TTF Gas PM (3)EUR / MWh18.182.432.568.75
ICE Gas Oil PM (3)US$ / mt609.2514.1714.5849.74
ICE Brent PM (3)US$ /barrel68.1111.1311.7440.08
UK Baseload Power PM (3) GBP / MWh48.6419.0520.1068.58
German Baseload Power PM (3)EUR / MWh35.3812.2812.9644.23
EUA Spot (3)EUR / t8.95
View sources and notes

UK Clean Power Spread Prices
   UK Clean Dark Spread  UK Clean Spark Spread
 
View methodology

ICE Futures Oil and Gas Daily Settlement Prices PM
   PM NBP Gas Futures (p / th)    PM Brent Futures (US$ / barrel)

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