Thursday, January 12, 2012

US thermal coal prices sink further as selloff continues

Both Central Appalachian and Powder River Basin 8,800-Btu/lb thermal coal contracts sold off for a second consecutive session on Wednesday, with prices down by a considerable margin over the two-day period.
CAPP and PRB 8,800 coal prices followed the broader energy complex lower. The NYMEX natural gas futures contract settled 5.7% lower at $2.774/MMBtu Wednesday, the lowest level for a front month contract since September 4, 2009, when the October 2009 contract settled at $2.728/MMBtu.
In the East, CAPP barge and rail (CSX) contracts traded in good volume for a second straight session, including initial interest in the barge Q1 2013 contract. Continued

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