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. 146 Date: Mar 2021
March Market Highlights
- 84Mt of coal futures and options cleared in March: 6% (4.6Mt) higher than February volume.
- Coal prices continued to rebound with the price for a Cal-2022 Newcastle contract closing at the highest level since January’21 while a Cal-2022 Richards Bay contract increased to levels last recorded in April 2019.
- 21Mt of Newcastle volume cleared (including a large number of quarterly contracts) - the third highest monthly amount in the past two years. Richards Bay also recorded relatively strong volume with 4.5Mt cleared - the largest monthly volume since Nov’20.
- Meanwhile activity in the Rotterdam market continued to decline with 59Mt cleared in March - the lowest monthly amount since August 2020. Q1 Rotterdam volume is down 11% (24.3Mt) YoY.
ICE Coal Futures Price Trend (Cal 2021)
ICE Coal Futures Spreads (Cal 2021)
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
Copyright © 2021 Global Commodities Holdings Limited and ICE Futures Europe®
Please direct all questions and comments about information contained in this publication to globalCOAL®. All information shown above is indicative only. Past performance is not indicative of future performance. Whilst globalCOAL endeavours to provide accurate information, it does not represent or endorse the accuracy or reliability of any of the information contained herein and cannot be held liable for any loss or damage howsoever arising from any use or reliance on the information contained herein. Where this communication has effect in the UK, it is issued by Global Commodities Holdings Limited (globalCOAL), which is authorised and regulated by the Financial Conduct Authority (FCA). The designated investments or investment services detailed are only directed to Eligible Counterparties and Professional Customers as defined by FCA. Any other persons, such as private customers, should not rely on this document. If you have any doubt, contact your financial adviser. globalCOAL's Scope of Permissions under the Financial Services and Markets Act 2000 prohibits globalCOAL from holding any positions in any of the designated investments it arranges on behalf of its clients. globalCOAL's directors, employees and affiliates are not permitted to conduct any transactions for their own account where a conflict or potential conflict of interest may occur without prior approval of globalCOAL. globalCOAL may be providing and may have provided within the previous 12 months, significant investment advice and service(s) in respect of any designated investment(s) or related investments, mentioned in this communication. Telephone conversations with globalCOAL may be recorded.
ICE Futures Europe® is a Recognised Investment Exchange in the UK supervised by the Financial Conduct Authority in accordance with the Financial Services and Markets Act 2000. The information and materials contained in this Report, graphics, links or other items-are provided "as is" and "as available". ICE Futures Europe, and its subsidiaries, does not warrant the accuracy, adequacy or completeness of this information and materials and expressly disclaims liability for errors or omissions in this information and materials. No warranty of any kind, implied, express or statutory, including but not limited to the warranties of non-infringement of third-party rights, title, merchantability, fitness for a particular purpose and freedom from computer virus, is given in conjunction with the information and materials. The information in this Report is liable to change at short notice. You should not rely on any information contained in this Report without first checking with us that it is correct and up to date.