The European-delivered CIF ARA physical thermal coal market slipped marginally Wednesday morning, as two December-delivery trades were executed.
Both deals were generic-origin 50,000 mt DES Amsterdam-Rotterdam cargoes with exchange of futures for physical terms attached, one at $88.65/mt via globalCOAL between a northwest European utility and investment bank, and the other at $88.20/mt via brokers GFI between two utilities.
The onscreen deal was 10 cents below a similar December trade Tuesday, as well as 10 cents below the Platts 90-day assessed price of $88.75/mt.
The second trade was slightly lower, 55 cents below Tuesday's trade and Platts' 90-day assessed price.
The DES Amsterdam-Rotterdam-Antwerp market has been relatively steady throughout the week, after jumping 85 cents at the start of the week, as the 90-day window rolled over to exclude lower prompt October indications.
The December market has traded every day since October 2 within a range of $87-88.75/mt.
Trading sources have cited unchanged demand-supply fundamentals for the steady price levels, with an ample supply of coal available and no growth in demand, despite Q4 traditionally seen as the winter restocking season.
