Coal swaps edge lower on crude selloff

摘要

London - European API2 (CIF ARA) thermal coal swaps closed marginally lower across the curve Thursday afternoon, largely taking direction from a $1/barrel slump in Brent crude oil futures, sources said. Early in the session, financial coal trading was choppy, with year-ahead API2 Cal-13 contracts trading from an open- ing intraday high trade of $95.60/mt down to $94.75/mt in just 45 minutes. Towards the end of trading, amid a slight recovery in the euro to above $1.31 against the US dollar and a $0.30/bl retracement in the Brent market, coal swaps had recovered most of their early losses.