Coal news and updates

ICE coal futures slip 28% month on month in April to 138.3 mil mt

The volume of coal traded and cleared on the ICE Futures platform during April totaled 138.3 million mt, slipping 28% from March to a four-month low, according to energy exchange ICE Futures Europe and electronic trading platform globalCOAL's monthly report released Wednesday.

The monthly volume was, however, 31% higher than in April 2014.

The volume of ICE Rotterdam Coal Futures traded and cleared during April fell 39% to a four-month low of 89.1 million mt. However, the volume was 5% higher on the year. According to Platts data, Rotterdam prompt-month May derivatives recovered $2.15 during the month to close at $59.75/mt on April 30.

The companies said that "although activity in the Rotterdam contract slowed down, increased price volatility at Newcastle [Australia] paved the way for the second highest monthly volume at the hub with 44.5 million mt cleared."

The Newcastle volume was 8% higher than March and almost three times more than April 2014's 15.1 million mt. The previous record high was the 58.8 million mt traded and cleared in February this year.

According to Platts data, Newcastle prompt-month paper prices increased strongly, ending April at $62.10/mt FOB, up $7.35 from the start of the month.

The companies said that the price rise had "coincided with a slight weakening in the US dollar/Australian dollar exchange rate and some short-term weather-related events in Australia."

Meanwhile, ICE Richards Bay Futures volumes dropped 19% on the month and 27% from April 2014 to 4.8 million mt in April, a six-month low.

The Richards Bay May swaps contracts gained $4 during April to $61.75/mt FOB at the end of the month, according to Platts data.

source: http://www.platts.com