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New UserLondon, Singapore coal derivative traded volumes up 4% on month: LEBA
21 Aug 2014
Total volumes of OTC and exchange-cleared financially settled coal derivatives traded in London and Singapore in July increased 4% on the month to 204.2 million mt, according to data published Wednesday by the London Energy Brokers' Association.
However, coal swaps volumes for July were 20% down on a year earlier.
European API2 (CIF ARA) derivatives volumes in July rose 1% from June to 165.4 million mt, a five-month high.
Traded volumes of API4 (FOB Richards Bay) contracts were up 22% month on month to 38.8 million mt, also the highest for five months.The proportion of overall coal contracts cleared via an exchange during the month was over 97%, the data showed.
Cleared API2 transactions made up 98% of the total traded volumes in July, compared with 77% a year earlier, while those in the API4 market amounted to 97%, up from 81% a year earlier.
Source: Platts