Coal news and updates

CSX CAPP coal for February trades in physical and swap market

Rail-delivered (CSX) Central Appalachian thermal coal for February delivery was seen trading in both the physical and swap market during a slow Thursday session.

CME ClearPort reopened on Wednesday at 6 pm EST, but UK traders remained on bank holiday in observation of Boxing Day.

In the US over-the-counter market, CSX physical February traded at $66/st for one train. This is the first seen physical trade for February, as the February swap rolled into the front month on Thursday. The price was assessed up $1.20/st to $66/st.

The February swap traded at $65.75/st for 10,000 st. The swap was last seen trading on December 18, when it printed at $62/st and at $62.50/st, for a total of 20,000 st/month.

CSX financial Q2 2014, which rolled into the prompt quarter position, traded at $65.25/st for 5,000 st/month. The physical price was assessed at $62.25/st, up 50 cents/st.

The CAPP barge and Powder River Basin 8,800-Btu/lb coal markets were shut out for a second consecutive trading session.

ATLANTIC SPOT MARKET UNCHANGED

European-delivered coal prices were unchanged from Tuesday, with European trading desks also closed in observance of Boxing Day.

The CIF ARA-FOB CSX spread, or implied transportation spread, stood at $17.17/mt.

US East Coast thermal coal (6,500 kcal/kg NAR 1% sulfur) was assessed down 25 cents/mt to $81.75/mt.

Source: Platts