Coal news and updates

No trades reported for 11th time this year in US OTC coal market

The August contract in the US over-the-counter thermal coal market ended with a whimper Friday, as no physical or financial trades were reported.

It was the 11th time this year that no trades were seen or reported. The market was last blanked July 13.

Brokers say a lackluster market for coal has limited physical traders, and there remain but a handful of active financial traders partly as a result.

Despite the lack of trades Friday, brokers reported some markets had firm bids and offers. In the physical August Powder River Basin 8,800 Btu/lb market, the contract was reported bid at $11.25/st and offered at $12/st.

The contract last traded Wednesday for $10.70/st.

Platts assessed the front-month (August) PRB 8,800 contract Friday at $11.30/st, down 10 cents from Thursday, based on broker marks.

The final monthly average for the physical August PRB 8800 contract was $10.26/st, up 23 cents from the prior month. The September contract rolls into the front position Monday.

Also in the West on Friday, a broker reported a bid of $8/st and an offer of $8.90/st for the August PRB 8,400 Btu/lb contract. Platts assessed the August PRB 8,400 contract Friday at $8.60/st, down 10 cents from Thursday, based on broker marks.

In the East, no market activity was heard Friday for either the Central Appalachia barge or rail contracts. In fact, neither contract traded the entire week.

Platts assessed the front-month CAPP barge contract Friday at $43.15/st, unchanged from Thursday, based on broker marks.

The final monthly average for the physically settled CAPP barge contract was $41.66/st, down $1.44 from the prior month.

The front-month CAPP rail (CSX) contract was assessed Friday at $44.15/st, down 10 cents from Thursday, based on broker marks. The final monthly average for the contract Friday was $42.79/st, up $2.02 from the previous month.

source: http://www.platts.com