A total of 15,000t of ICI 4 coal derivatives was cleared on the CME today, amid further signs that the low-calorific value (CV) Indonesian physical market is strengthening. Today’s ICI 4 derivatives trades comprised two 5,000t November clips traded at $33/t and a 5,000t October clip traded at the slightly lower price of $32.80/t. All of today’s trades were brokered by Singapore-based Evolution. October contracts were later bid at $32.50/t and offered at $32.95/t. By comparison, the last Argus settlement price for October ICI 4 futures was at $32.70/t yesterday, when the November settlement price was at $32.90/t.
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