ICE Coal Futures Monthly Report

The ICE Coal Futures market is our most transparent window on the world of financial coal trading. This free monthly report analyses volume and price trends on a monthly basis to help you draw a picture of market development.




Coal Futures Monthly Report

Issue No. 122    Date: Mar 2019


March Market Highlights

  • ICE’s Cal’20 Coal Futures Daily Settlement Prices weakened again this month, with the three main contracts losing at least US$5/mt in the first 2 weeks of March, followed by a further, more moderate decline
  • The ICE Rotterdam Cal’20 contract closed March at US$72.00/mt (down $8/mt MoM), while Richards Bay was pegged at $77.90/mt (down $7.30/mt MoM) and Newcastle at $84.35/mt (down $7/mt MoM)
  • The C4 M+1 contract fell in step, reaching lows last seen in end-2016
  • The overall volume of coal contracts cleared by ICE remained stable at 102Mt
  • However, appetite increased for the gC ICE NEWC contract in which 19.6Mt traded. This represents 19% of the overall ICE Coal volume – the highest proportion since June 2017

ICE Coal Futures Price Trend (Cal 2019)



ICE Coal Futures Spreads (Cal 2019)


ICE Coal Futures Volatility*



* Historical 30-Day Annualised Volatility is calculated by taking the standard deviation of the last 30 days' natural logarithm of daily percentage change in the price of the Cal+1 contract, and annualising it by multiplying it by the square root of 252 (as the number of trading days in the year).



Relevant Exchange Rates



ICE Coal Futures Monthly Volume & % Screen Executed



ICE Coal Futures vs Options Volume



Futures Volume by Expiry



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