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ICE NewCastle Coal Dec '20 (LQZ20)

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Contract Specifications for [[ item.sessionDateDisplayLong ]]
Barchart Symbol LQ
Exchange Symbol NCF
Contract globalCOAL Newcastle Coal Futures
Exchange ICE/EU
Tick Size 0.05 points ($50 per contract)
Margin/Maintenance $51,502/46,820
Daily Limit No limit
Contract Size 1,000 metric tonnes
Months All Months
Trading Hours 20:00p.m. - 18:00p.m. (EST)
Value of One Futures Unit $1,000
Value of One Options Unit $1,000
Last Trading Day Trading terminates on the last Friday of the contract month

Description

Coal is a sedimentary rock composed primarily of carbon, hydrogen, and oxygen. Coal is a fossil fuel formed from ancient plants buried deep in the Earth's crust over 300 million years ago. Historians believe coal was first used commercially in China for smelting copper and for casting coins around 1,000 BC. Almost 92% of all coal consumed in the U.S. is burned by electric power plants, and coal accounts for about 55% of total electricity output. Coal is also used in the manufacture of steel. The steel industry first converts coal into coke, then combines the coke with iron ore and limestone, and finally heats the mixture to produce iron. Other industries use coal to make fertilizers, solvents, medicine, pesticides, and synthetic fuels.
There are four types of mined coal: anthracite (used in high-grade steel production), bituminous (used for electricity generation and for making coke), sub-bituminous, and lignite (both used primarily for electricity generation).

Futures and options on coal trade at the ICE Futures Europe, New York Mercantile Exchange, and Singapore Exchange. Futures are traded on CME Group, Dalian Commodity Exchange, and Zhengzhou Commodity Exchange. The CME's contract trades in units of 1,550 tons and is priced in terms of dollars and cents per ton.

Prices - In 2022, the average mine price rose by +49.4% to $54.46 per short ton.

Supply - US production of bituminous coal in 2023 fell by -2.1% yr/yr to 581.613 million tons.

Demand - US consumption of coal in 2022 fell by -5.5% to 515.533 million tons.

Trade - US exports of coal in 2023 rose by +16.1% yr/yr to 99.791 million tons. The major exporting destinations for the US are Europe and Asia. US imports in 2023 fell by -36.5% yr/yr to 4.010 million tons.

Information on commodities is courtesy of the cmdty Yearbook, the single most comprehensive source of commodity and futures market information available. Its sources - reports from governments, private industries, and trade and industrial associations - are authoritative, and its historical scope for commodities information is second to none. The CRB Yearbook is part of the Barchart product line. Please visit us for all of your commodity data needs.

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