Total traded volumes of OTC and exchange-cleared financial coal derivatives in January fell 31% year on year to 181.454 million mt, according to data published Monday on the London Energy Brokers' Association website.
The figure is 49% higher than December 2012's monthly volumes of 121.77 million mt, the lowest volume of 2012.
API2 (CIF ARA) derivatives volumes in January dropped 34% on-month to 117.209 million mt while API4 (FOB Richards Bay) coal derivatives volumes were practically stable on-year at 28.395 million mt.
Cleared API2 transactions made up 70% of the total traded volumes in January, compared to 64% in January 2012, overtaking the proportion of cleared API4 transaction volumes.
The cleared proportion of all other coal derivatives, mainly of Australian Newcastle swaps, fell to 34% from 47% in the same month last year.
Platts data showed that the benchmark year-ahead API2 Cal-14 contract dropped to lows of $98.65/mt In January after starting the year at $102.20/mt.
The contract has since oscillated around $99-$100/mt price levels, and Platts last assessed it Friday at $98.65/mt.
