Central Appalachian thermal coal spot prices closed mixed Monday, with the April barge contract rising 70 cents/st and the rail-delivered (CSX) April contract falling 15 cents/st.
The front-month river-rail spread widened to $3.85/st, up from $3/st on Friday. According to Platts data, the spread is at its largest premium since May 14, 2012, when the spread was $3.90/st.
Notably, the Q3 2014 and Q4 2014 river-rail spreads were seen trading in the session, with the barge contract trading at a smaller premium of about 70 cents/st.
In Monday's trading session, April traded at $59/st for five barges and at $59.50/st for 10 barges. Platts assessed the price at $59.20/st, assuming a 65 cents/st discount to the Q3 2014 strip, which cleared late at $59.85/st.
CSX physical April traded at $55/st for one train. The contract was last heard with a bid at $55.25/st and the price was assessed 15 cents lower to $55.35/st.
CIF ARA SPOT MARKET REBOUNDS FROM FRIDAY'S DECLINE
The spot European-delivered CIF ARA physical thermal coal market gained 65 cents Monday, which market participants attributed to adjustments and short-covering in a market plagued by direction uncertainty.
The CIF ARA-FOB CSX spread, or implied transportation spread, widened to $21.45/mt from $20.65/mt on Friday.
US East Coast thermal coal (6,500 kcal/kg NAR 1% sulfur) was assessed up 25 cents to $76.25/mt.
