Q4 2014 Central Appalachian rail (CSX) and Powder River Basin 8,800-Btu/lb coal time spreads saw action Thursday in the US over-the-counter market, pushing prices higher.
In the PRB 8,800 market, the Q4 2014 physical price closed 30 cents/st higher at $14.15/st after the Q4 2014 over Q1 2015 spread was seen trading several times.
PRB 8,800 financial Q4 2014 over Q1 2015 traded at minus 25 cents/st for 5,000 st/month, and at minus 20 cents/st for 10,000 st/month twice. The last cleared price for the Q4 2014 leg was $14.15/st.
PRB 8,800 financial Q3 2014 over Q4 2014 traded at minus 30 cents/st for 5,000 st/month.
PRB 8,800 financial Q4 2014 traded outright at $14.10/st for 5,000 st/month.
In the East, CSX financial Q4 2014 over Q1 2015 traded at minus $1.10/st for 10,000 st/month and 5,000 st/month. The Q4 2014 leg was last cleared at $63.65/st. Physical Q4 2014 was assessed at $63.65/st, up 65 cents/st.
In the options market, a CAPP barge Q4 2014 call with a strike price of $70/st traded at a premium of 75 cents/st for 20 barges/month twice. Platts assessed the Q4 2014 price some 55 cents/st higher at $64.05/st, leaving the option currently well out of the money.
CIF ARA SPOT MARKET DROPS BELOW $75/MT
Spot European-delivered CIF ARA thermal coal physical prices dropped below $75/mt for the first time in almost two months, with sources citing the resumption of US miner Drummond's Colombian exports and low demand.
A multi-origin 50,000 mt May DES Rotterdam shipment with US optionality traded at $74.15/mt via globalCOAL, down $1.40 from the last May trade on Tuesday.
The CIF ARA-FOB CSX spread, or implied transportation spread, narrowed to $15.88/mt from $16.48/mt on Wednesday.
US East Coast thermal coal (6,500 kcal/kg NAR 1% sulfur) was assessed 50 cents/mt lower at $78/mt.
