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Americas: Central Appalachian barge coal extends rally, Q4 sees heavy volume

https://www.chemnet.com   Mar 09,2011 Platts
Central Appalachia thermal coal prices rose for a fifth straight session Monday, with longer-dated CAPP barge Q4 2011 contracts trading in exceptionally high volume.

Prices for that contract ended the session at $76/st, up $1/st from Friday's Platts assessment. Q4 2011 traded at $76.25/st for five barges 16 times, $76.25/st for 10 barges three times, $76.25/st for 30 barges, and $76/st for five barges.

Cal 2012 contracts also benefitted from higher bids during the day, rising 50 cents/st to $80.55/st.

CAPP barge April traded at $71/st for five barges. Q2 2011 traded at $73.50/st for five barges. Q3 2011 traded at $74.50/st for five barges twice, and $74.25/st for five barges.

Q1 2012 traded at $77.90/st for five barges twice. Q2 2012 traded at $80/st for five barges twice.

Two CAPP barge spread trades were reported. April over May traded at a premium of 25 cents/st for five barges while Q4 2011 over Q1 2012 traded at a discount of $2/st for five barges.

In the less liquid CAPP rail (CSX) market, just one trade was reported -- a CSX financial Q4 2011 deal at $78.50/st for 5,000 st. CSX physical Q4 2011 was assessed 90 cents/st higher at $78.15/st.

Powder River Basin 8,800-Btu/lb coal also drew some interest during a mixed session there. Front-month 8,800-Btu/lb April traded down 15 cents/st to $13.65/st. April traded at $13.70/st for one train, and $13.65/st for one train. PRB financial Q1 2012 traded at $14.95/st for 5,000 st twice.

On the IntercontinentalExchange, whose CAPP barge prices settle against Platts assessments, CAPP barge Q2 2011 traded at $73.50 for five barges.

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