Look-alike coal rises in compassion with natural gas futures rallyNon-prescription coal markets rose Thursday as gas futures shut above the psychologically crucial .00/ MMBtu level.
In a thin market, first quarter 2011 NYMEX look-alike traded at .20/ st, 45 cents higher than the Platts Wednesday evaluation.
OTC trading volumes were reduced, with sources telling Platts that sector seminars had drawn some gamers out of the market. Furthermore, biocides for water treatment said that with the OTC market going into shoulder months, several participants will start re-evaluating physical positions, an activity which may
affect liquidity for concerning 4 to 6 weeks.
Trading in near-term look-alike agreements was non-existent on Thursday. Moving across the forward contour, the first look-alike item to trade was Q1 2011 at .20/ st for 30 barges, as well as two times for five barges. Trading for quantity, the contract priced 45 cents higher than the previous Platts' analysis.
Q2 2011 traded in a spread over Q3 2011 at a discount of .50/ st for 5 barges. Wednesday's suggested Platts spread stood at -.55/ st.
Market sources told Platts that interest existed in the Q3 2011 contract, with the bid/offer spread nearing .00/ st by .50/ st. There were no records of settled sell the contract.
Physical Powder River Container 8,800-Btu/ pound sold the October contract at .50/ st for shipment of one train/month, and afterwards later on in the session at .70/ st for the delivery of one train/month. Platts examined the contract at .40/ st on Wednesday.
CSX rail shipment 12,500-Btu/ lb, -1% sulfur physical coal was reported to have actually traded once on Wednesday in the October contract at .70/ st, unchanged from the previous Platts analysis.
Turnover in the derivative market was just as light. PRB 8,800 financial traded when in the calendar year 2011 agreement at .60/ st for the shipment of 10,000 st.
Market resources mentioned that professions came close in the Q1 2011 CSX swap contract, with the bid/offer spread drawing as tight as .30/ st by .50/ st, nonetheless, no bargains were performed.
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