COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively on Friday, 5th October 2012, closing, according to the data released by AsiaClear OTC coal swaps on 5 October 2012.

Sub-Bit FOB Indonesia coal swaps for December 12 delivery opened on Monday, 1 October  2012 at US$ 60.67 pmt and closed on Friday (5 October 2012) at $  60.73 gained around $ 0.06 pmt. However December 2013 deliveries lost US$ 0.41 per MT for the same period.

Average December 2012 deliveries for  Sub-Bit Indonesia coal opened at $ 60.67 pmt on 1 October  2012 and closed $ 60.73 on 5 October 2012.

CFR South China coal shipments for December 12 and 13 deliveries increased  on w-w and d-d.

On 1 October CFR South China coal shipments (delivery December 2012) was opened at $ 82.95 and closed on 5 October  at $ 83.50 up $ 0.55 per mt. The CFR South China coal swaps for December’12  deliveries up 0.663 percent and 0.626 percent on w-w and d-d  respectively on 5 October 12.

Sub-Bit FOB Indonesia coal contracts for December 2012 delivery closed at US$ 60.73 on Friday (5 October 2012) compared to US$ 60.67 Monday opening, gained US$ 0.06  per MT. In the meantime, CFR South China coal December delivery gained US$ 0.55 pmt w-w  and US$ 0.52 pmt d-d on Friday (5 October) closed at US$ 83.50 against US$ 82.98 Thursday closing.

CFR South China coal, December’13 delivery gained 1.309 percent W-W and 0.186 percent d-d. Sub-Bit FOB Indonesia coal contracts for December’13 delivery lost -0.596 percent or US$ 0.41 pmt W-W, but gained 0.058 percent D-D and closed at US$  68.27.

A commodity swap is a financial agreement whereby a floating, or spot, price is exchanged for a fixed rate over a specified contract period. (Last updated on 17 September 2012).

“ From the start of the year to the end of August, all of the global coal benchmark prices have fallen, starting a trend that goes back to the middle of 2011 when global prices peaked. While CIF ARA prices have fallen 18% YTD and have traded below $100/t since early February, the recent export disruption at Colombia has added value back into that contract, according to Barclays’s, weekly coal outlook report released end of last month.

The report further said, however, despite that, most of the other global benchmarks have fallen as well: Richards Bay (South Africa) had a weak Q3, now falling 18% ytd; Newcastle, which had held value in Q1 better than the Atlantic benchmarks, is now down 22% YTD as Chinese stock building and the ensuing contractual defaults led to pressure in the Pacific Basin.

The benchmark that held the most value this year was the Bohai Rim (Northern China) FOB price, but a sustained correction over Q3 means these have also fallen 23% YTD. In terms of y/y changes, there is greater consistency across all of the benchmarks as all of them are down in a fairly narrow range around 25%, with Chinese domestic prices having fallen the least.

Indonesian government’s declared coal bench mark price for October delivery fall 0.20 percent M-M and 27.84 percent Y-Y. The government has fixed HBA at US$ 86.04 per MT for October delivery.

According to SGX AsiaClear OTC Coal Swaps, Sub-Bit FOB Indonesia coal swaps for December’13 deliveries $ 7.54 higher compared to December 12 delivery prices.

The swap trends for 2013 deliveries are on positive direction, however, the forecasts from experts and analysts are still on negative direction.