London (Platts)--13Dec2012/922 am EST/1422 GMT
The volume of ICE Coal Futures traded and cleared during November climbed 24% month-on-month to 100,050 lots or 100.05 million mt of coal, energy exchange ICE Futures Europe and electronic trading platform globalCOAL said late Wednesday. During the month, the largest proportion of traded volume took place in the ICE Rotterdam Coal Futures contracts where 76.7 million mt of coal was traded and cleared, surging 35.5% from the October volume. According to the ICE coal futures monthly report, the amount of ICE Newcastle coal futures traded and cleared during November also rose, jumping 10.2% to 14.5 million mt of coal. The companies said that this was the highest volume since the Newcastle contract was launched in 2008. Meanwhile, the volume of ICE Richards Bay coal futures fell 19.3% month-on-month to 8.8 million mt. Article continues below...Request a free trial of: International Coal ReportInternational Coal Report and its daily companion, Coal Trader International, deliver expert and respected price assessments for coal trading in the Atlantic and Pacific markets including price assessments for European CIF ARA, FOB Newcastle, Richards Bay and Indonesia.
The volume of ICE Coal Futures traded and cleared during November climbed 24% month-on-month to 100,050 lots or 100.05 million mt of coal, energy exchange ICE Futures Europe and electronic trading platform globalCOAL said late Wednesday. During the month, the largest proportion of traded volume took place in the ICE Rotterdam Coal Futures contracts where 76.7 million mt of coal was traded and cleared, surging 35.5% from the October volume. According to the ICE coal futures monthly report, the amount of ICE Newcastle coal futures traded and cleared during November also rose, jumping 10.2% to 14.5 million mt of coal. The companies said that this was the highest volume since the Newcastle contract was launched in 2008. Meanwhile, the volume of ICE Richards Bay coal futures fell 19.3% month-on-month to 8.8 million mt.
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International Coal Report and its daily companion, Coal Trader International, deliver expert and respected price assessments for coal trading in the Atlantic and Pacific markets including price assessments for European CIF ARA, FOB Newcastle, Richards Bay and Indonesia.
According to Platts data, Newcastle prompt-month paper prices rallied $8.45 during the month to $93.80/mt from $85.35/mt on November 1. ICE and globalCOAL said that there was a late flurry in the last three trading days of the month when prices jumped $3. Sources had attributed the rise to approaching talks between Japanese power utilities and Australian producers, as well as the possibility of weather affecting supply in the first quarter of 2013. Richards Bay December paper contracts were assessed at $82.35/mt at the beginning of the month, gaining $8.25 during the month to close at $90.60/mt on November 30, according to Platts data. Rotterdam prompt-month derivatives started the month at $86.75/mt, rising $6.25 throughout the month to $93/mt by the end of November. Sources said major market participants were covering short positions as physical supply-demand fundamentals remained balanced. --Jacqueline Holman, jacqueline_holman@platts.com--Edited by Jonathan Dart, jonathan_dart@platts.com
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