Through the forward curve, look-alike prices pushed mostly higher, trading at $67.40/st in Q1, 50 cents higher than Friday's Platts assessment. Look-alike price levels opened higher from Friday's close, but by the end of the session had pulled back from their highest levels.
CSX coal prices moved lower. CSX physical saw interest in the front months, while CSX swaps saw better interest in longer-dated terms.
PRB 8,800-Btu/lb trading was shut out, with market sources saying light trader interest in the product only materialized well into the New York afternoon.
December 2010 look-alike traded once at $66.50/st for five barges, 50 cents ahead of Friday's Platts assessment.
CSX physical in the December 2010 contract traded at the same price, $66.50/st for the delivery of one train, unchanged from Friday's Platts assessment, and in parity with the look-alike contract.
Into 2011, look-alike traded outright at $67.60/st for five barges, $67.40/st for five barges twice, and at $67.30/st for five barges. In spreads over Q2 2011, the term traded at a discount of $1.25/st for five barges twice, and at a discount of $1.50/st for five barges. Q1 traded in a range from $66.50/st to $67.25/st on Friday, with Platts assessing the contract at $66.90/st. Q2 traded at $68.45/st for five barges three times, compared with a trading range of $68/st to $68.70/st on Friday. Platts assessed the contract at $68.10/st for the Friday session.
Contracts for Q3 2011 traded once at $70/st for five barges. Platts' prior assessment stood 40 cents lower at $69.60/st, following a trade at that level.
Longer-dated look-alike trades included second-half 2011 at $70.40/st for five barges. Cal 2011 traded outright at $69.50/s for five barges and in a spread over Cal 2012 at a discount of $5.75/st for five barges.
In the financial market, CSX swaps traded in the Cal 2011 contract at $71.20/st for 5,000 st and at $71.50/st for 10,000 st.
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