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Atlantic thermal coal derivative volumes up 13% on year in 2016: LEBA

London (Platts)--11 Jan 2017 943 am EST/1443 GMT


Traded volumes of Atlantic market thermal coal derivatives rose 13% on the year in 2016 to 3.42 billion mt, with the year being the first that Australian globalCOAL Newcastle futures were included in the total, according to data Wednesday from the London Energy Brokers' Association.

Without the inclusion of the globalCOAL Newcastle futures, the volume was steady on the year at 3.03 billion mt, with increased Europe-delivered CIF ARA derivative trading offset by a lower quantity of South African Richards Bay futures.

For the year, 2.78 billion mt of CIF ARA futures were traded, up 2% on the year, while 253.14 million mt of Richards Bay derivative contracts were changed hands, falling 17.5% from 2015.

A total of 384.59 million mt of globalCOAL Newcastle futures traded during the year, with no year-on-year comparison available.

During December, traded futures volumes took a notable dive across all three markets due to the holiday season, with 129.85 million mt trading, down 32% on the year and dropping 55% from November to the lowest monthly volume since December 2013. Of the total, 87%, or 112.52 million mt, was cleared.

Volumes of CIF ARA derivative contracts traded in December dropped 47% on the year to 92.04 million mt, also down 57% on the month also to the lowest since December 2013. The percentage of contracts cleared during the month was 88% at 80.64 million mt.

Richards Bay volumes were 10.86 million mt, falling 41% on the year and 44% from November to a five-month low. Cleared Richards Bay futures totaled 95% of the total volume at 10.32 million mt.

The data showed that 26.95 million mt of globalCOAL Newcastle futures contracts were traded during the month -- falling 55% on the month to the lowest since August -- of which 80%, or 21.56 million mt, were cleared.

--Jacqueline Holman, jacqueline.holman@spglobal.com

--Edited by Jeremy Lovell, jeremy.lovell@spglobal.com




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