The volume of coal traded and cleared on the ICE Futures platform during January more than doubled December's 100.5 million mt to a record high 238 million mt, according to data from energy exchange ICE Futures Europe and electronic trading platform globalCOAL Wednesday.
The monthly volume was also 12% higher than the previous record of 212.2 million mt in January 2015.
January's monthly volume comprised 54.7 million mt of options, making up 31% of the total, which was more than seven times higher than December's 10.2 million mt, but 24% down year on year.
The amount of ICE Rotterdam Coal Futures traded and cleared during January also more than doubled on the month to a record high 178.9 million mt, compared with 67.8 million mt in December.
The volume was also 2% higher on the year, with 37%, or 65.7 million mt, traded as options. The amount of Rotterdam options for the month were more than seven times higher than December's 7.6 million mt at 65.7 million mt, which was 28% lower on the year.
According to Platts data, Rotterdam prompt-month February derivatives fell $1.50 during the month to close at $44.75/mt on January 29.
ICE Richards Bay Futures volumes rose 91% on the month to a 23-month high of 17.1 million mt. January's volume was also more than double January 2015's 7.6 million mt, with no options traded for the seventh consecutive month.
The Richards Bay February swaps contracts rose $1.40 during January to close at $49.95/mt at the end of the month, according to Platts data.
Volumes of globalCOAL Newcastle Coal Futures traded and cleared during January climbed 77% on the month to a three-month high of 42 million mt, which was also up 46% on the year.
Options made up 21% of the total Newcastle contracts at 9 million mt, which was more than triple December's 2.5 million mt and more than double the 3.9 million mt a year earlier.
According to Platts' data, Newcastle prompt-month paper prices were relatively stable, up just 20 cents from January 4 at $50.35/mt at the end of the month.
