London (Platts)- The European-delivered CIF ARA thermal coal physical market saw a March-delivery cargo trade at $105/mt first thing Monday morning, 50 cents higher than Platts Friday 90-day assessed price, although on par with the March prompt-month assessment.
The deal for 50,000 mt of generic-origin material for delivery into Rotterdam went through via the globalCOAL screen with exchange of futures for physical terms attached. It was said to have taken place between two northwestern European utilities.
The CIF ARA market has been quiet in recent weeks, with ample stocks in ARA limiting coal demand. Physical levels have been mostly tracking the moves of the financial derivatives market, which in turn have been supported by strong macroeconomics, a higher energy complex, imminent colder weather and short-covering.