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.
Issue No. 128 Date: Sep 2019
September Market Highlights
- 99,694 lots of ICE futures and options cleared in September – A five month high in cleared thermal coal volume.
- Rotterdam recorded a 24% MoM increase in volume with 80.6 Million tonnes cleared followed by Newcastle with 15.8Million tonnes and Richards Bay with 2.3Million tonnes.
- The price of a calendar 2020 Rotterdam contract rose approximately $6/tn between early to mid-September briefly converging with Richards Bay prices before falling away by month end.
- Freight rates are still at the highest levels since November 2018 with the C4 (Richards Bay/Rotterdam) and C5 (W Australia/Qingdao) route pricing around $9/mt.
- Meanwhile the USD remains strong versus the Euro and Australian Dollar increasing the cost of coal in local currency terms.
ICE Coal Futures Price Trend (Cal 2020)
ICE Coal Futures Spreads (Cal 2020)
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 Options Volume
Futures Volume by Expiry
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