Possible Asian return firms API4 swaps as Lunar New Year ends

摘要

The end of the Chinese Lunar New Year and possible subsequent return of Asian demand allowed front-end API4 (FOB Richards Bay) coal swaps to rally over $1/mt February 10, after softening for seven consecutive days. A banking source pointed out that, although crude oil was supporting the curve, market players were expecting Asia to return to the market after the holiday. Another source added that, as prices had fallen over the past week, they had neared levels more attractive to Asian buyers.