CIF ARA coal prompt-quarter contract discount to prompt-year widens

摘要

The CIF ARA thermal coal prompt-quarter contract has been widening to the prompt-year contract recently, closing at a discount of $2.90/mt Tuesday, having reached a four-year record discount Monday of $3.20/mt. Sources attributed the strengthening contango shape of the CIF ARA curve to bearish fundamentals in the spot market, weighing down on contracts at the front of the curve.