US over-the-counter thermal coal prices closed little changed on Tuesday, with only a handful of trades seen across the Central Appalachian and Powder River Basin 8,800-Btu/lb coal markets.
In the East, CAPP rail (CSX) coal prices edged 5 cents/st lower at the front of the curve, while paper trades lifted physical prices in Q3 2014 and Q4 2014 terms.
CSX physical March traded near the end of the session at $64.75/st for one train. The contract was subsequently offered at $65/st.
In swaps, CSX Q3 2014 traded at $63.60/st for 5,000 st/month. The physical price was assessed at $63.60/st, up 10 cents.
CSX financial Q4 2014 traded at $64.10/st for 10,000 st/month twice.
In CAPP barge, Q2 2014 over Q3 2014 traded at minus 35 cents/st for 10 barges/month.
Q3 2014 traded at $58.50/st for 10 barges/month twice and five barges/month.
In the West, PRB 8,800 financial Q2 2014 traded at $12.85/st for 10,000 st/month twice.
PRB 8,800 financial Q3 2014 traded at $13.05/st for 5,000 st/month.
At the front of the curve, March was assessed at $12.45/st, up 5 cents. The contract was not seen trading, but the market was framed at $12.35-$12.55/st.
ATLANTIC SPOT PRICE REBOUNDS
The spot European-delivered CIF ARA physical thermal coal market recovered 36 cents Tuesday from almost five-month lows, although sources noted that a number of bearish factors continued to weigh on the market, including a lack of demand and ample supply.
One northwest European utility trader pointed out that most generators were "pretty well covered in general," adding that the market was well-offered amid limited bids.
The CIF ARA-FOB CSX spread, or implied transportation spread, widened to $15.01/mt from $14.60/mt on Monday.
US East Coast thermal coal (6,500 kcal/kg NAR 1% sulfur) was assessed 25 cents higher to $81/mt.
