The volume of coal traded and cleared on the ICE Futures platform during July fell 31% from June's record high of 311.6 million mt to 214.2 million mt, although volumes were 83% higher than the same month in 2015, according to data from energy exchange ICE Futures Europe and electronic trading platform globalCOAL Wednesday.
July's monthly volume comprised 43%, or 91.6 million mt, of options, which was down 39% than the previous month, but up 74% on the year.
"While the spike in price volatility first seen following the UK's Brexit decision in June prevailed in July, prompt prices remained on an overall upward trajectory across all three hubs throughout the month," the firms said in the report.
The amount of ICE Rotterdam Coal Futures traded and cleared during the month dropped 27% from June's record high to 195.4 million mt, but more than doubled the previous July's 80.6 million mt.
Of the volume, 46%, or 89.5 million mt, was traded as options, decreasing 35% from June, but up from 43.5 million mt a year ago.
According to S&P Global Platts data, Rotterdam prompt-month August derivatives rose $3.20 during the month to close at $61.65/mt on July 29.
ICE Richards Bay Futures volumes slipped 58% on the month to a nine-month low of 3.2 million mt, which was also 20% lower than the same month in 2015. No Richards Bay options were traded for the fourth consecutive month.
The Richards Bay August swaps contracts increased $5.20 during July to close at $66.15/mt at the end of the month, according to Platts data.
Volumes of globalCOAL Newcastle Coal Futures traded and cleared during July were 57% lower on the month at 15.7 million mt, which was also down 52% on the year and at the lowest level since May 2014.
Options made up 13% of the total Newcastle contracts at 2.1 million mt, which plunged 80% on the month, but was more than double July 2015's 900,000 mt.
According to Platts data, Newcastle prompt-month paper prices gained $7.80 from July 1 to $67/mt at the end of the month.
