OTC volume 'on lighter side' in June as East sinks and West skies

摘要

Over the counter volume was on the lighter side during June with prices moving generously both in the East and West, according to Evolution Markets' latest Monthly Market Update. Eastern coals saw a decrease of as much as 10 percent in certain parts of the curve, with Powder River Basin coal seeing an increase of roughly five percent across the curve. "Declining steel prices and subsequent delays in coking coal shipments weighed on steam coal in the East as certain "crossover" coals came back into the steam market," Evolution reported. "Talk of continued issues with Eastern rail deliveries has also kept a lid on prices." NYMEX lookalike coal traded sharply lower in June in heavy trading. There was no respite in the selling pressure as the markets traded down from the beginning of the month to the end, Evolution noted. Lack of utility buying and a bearish sentiment overall were some of the leading factors.