Swaps fall on weaker physical market

摘要

Losses in the European physical spot market pushed coal swaps down across the curve, with most contracts down by 60-80cents/t. European physical spot prices dipped following deals done at a lower level. Liquidity was flat on the day with 200,000t traded, but prices slipped after a 50,000t cargo for November delivery was sold at $80.75/t des Amsterdam/ Rotterdam (AR) with exchange of futures for physical (efp), $1/t lower on yesterday.