Prices fell at the front of the curve in all over-the-counter US coal contracts assessed by Platts on Tuesday, with the Central Appalachian barge and rail (CSX) markets both having an ample volume of contracts cleared.
In the CAPP rail (CSX) market, April physical traded once at $60.50/st for one train and was assessed at that price, down 50 cents.
An April over May physical spread traded flat for one train over one train with legs at $60.50/st each. Platts assessed May at $60.50/st, down 95 cents.
Financial Q2 traded for $61.10/st for 10,000 st/month early in the day, and the physical term was assessed at $60.95/st, down 30 cents.
Financial Q3 over Q4 traded for a discount of $1.80/st for 25,000 st/month and 50,000 st/month. Financial Q4 2013 traded once at $64/st for 5,000 st/month, once at $63.90/st for 5,000 st/month and twice at $63.90/st for 10,000 st/month. Platts assessed physical Q3 down 35 cents to $62/st and physical Q4 down 20 cents to $63.80/st.
A financial Cal 2014 over Cal 2015 spread traded for a discount of $5.90/st for 15,000 st/month. CSX financial Cal 2015 traded for $73.85/st for 5,000 st/month. Platts assessed Cal 2014 physical down 45 cents to $67.85/st.
In the CAPP barge market, all trading was at the back of the curve. Q4 traded for $62.20/st for five barges/month, $62.15/st for five barges/month, $62.10/st for five barges/month and $62/st for five barges/month.
Cal 2014 traded for $66/st for five barges/month, $65.85/st for five barges/month and $65.85/st for 10 barges/month. Cal 2015 traded twice at $71.85/st for five barges/month.
Platts assessed April down 45 cents to $57.90/st, May unchanged at $58.40/st, Q2 down 10 cents at $58.30/st, Q3 down 15 cents to $61.10/st, Q4 down 20 cents to $62/st and Cal 2014 down 30 cents to $65.85/st.
In the Powder River Basin market, prices fell on the front end and rose in the back half of the curve.
In the 8,800 market, April physical traded for $9.70 for two trains and was heard to trade later in the session at $9.50/st for one train. Financial Q3 traded for $10.65/st for 15,000 st and 10,000 st/month. Financial Q4 traded for $10.85/st for 50,000 st/month. Financial backhalf 2014 traded for $12.25/st for 5,000 st/month.
Platts assessed April physical down 10 cents to $9.50/st, May down 5 cents to $10/st, Q2 down 5 cents to $9.90/st, Q3 up 10 cents to $10.70/st, Q4 up 10 cents to $10.90/st and Cal 2014 up 10 cents to $11.85/st. The physical 8,400 curve was assessed in line with the 8,800 curve.
On the IntercontinentalExchange, CSX financial April traded for $60.85/st for 5,000 st/month. A CSX financial Q2 over Q3 spread was offered at a discount of 50 cents and bid at a discount of $2 for five barges/month.
Platts assessed US Gulf Coast Eastern-origin (6,000 kcal/kg NAR 3% sulfur) up 25 cents to $52.50/mt.
US East Coast thermal coal (6,500 kcal/kg NAR 1% sulfur) was assessed down 25 cents to $87.50/mt.
US Gulf Coast Western-origin (5,000 kcal/kg GAR 0.5% sulfur) was assessed unchanged at $41.25/mt.
FOB Canada/US West Coast Western-origin (5,000 kcal/kg GAR 0.5% sulfur) was assessed down 25 cents to $58/mt.
Platts assessed the price of CIF ARA thermal coal basis 6,000 kcal/kg NAR and for delivery within the next 15-60 days at $87.30/mt, down 20 cents. Platts assessed the price of Richards Bay thermal coal basis 6,000 kcal/kg NAR and for loading within the next 7-45 day period at $83.80/mt, up 60 cents.
