CIF ARA spikes to highest level in two months on back of bullish paper

摘要

Atlantic thermal physical coal markets were beginning to feel the effect of Japan's 8.9-magnitude earthquake and resultant tsunami March 14, after the European-delivered CIF ARA market hit its highest level since January 13. During the late afternoon a May deal went through on the globalCOAL screen at $127/mt DES Rotterdam for 50,000 mt of generic-origin material, with exchange of futures for physical terms – up $5/mt versus the March 11 traded level. The deal was said to have been done between two northwest European utility traders, although this could not be confirmed directly.