Covered Commodity and Power Product
API2 Rotterdam Coal
ATW · ICE API2 Rotterdam Coal monthly futures · USD per metric tonne
Current futures priceN/A
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Current signal
- The ICE API2 Rotterdam Coal futures contract for October 2026 is currently priced at 134.50 USD per metric tonne.
- This price reflects a decline of 2.00 USD per metric tonne, representing a 1.47% decrease based on the latest available delayed market data.
- The current observation is limited to a single price point for the Oct26 contract and does not provide broader term-structure analysis or historical volatility metrics.
What changed
- The API2 Rotterdam Coal futures contract experienced a downward adjustment of 1.47% in the most recent trading session.
- This move brings the October 2026 contract price to 134.50 USD per metric tonne, reflecting a 2.00 USD decline.
- Market data is sourced from ICE public delayed futures feeds, which provide the current settlement context for this specific European coal benchmark.
Why it matters
- API2 Rotterdam Coal futures serve as a primary benchmark for European thermal coal pricing, influencing regional power generation costs and fuel-switching economics.
- Price fluctuations in this contract impact the cost basis for utilities and industrial consumers reliant on coal-fired generation within the European energy mix.
- As a cash-settled monthly future, this instrument is utilized by market participants to hedge against long-term price volatility in the European energy sector.
Bullish factors
- Bullish sentiment would require evidence of tightening supply-side constraints or increased demand for coal-fired power generation in the European region.
- Current evidence does not provide specific supply or demand drivers that would support a bullish price thesis for the October 2026 contract.
Bearish factors
- The recent 1.47% decline in the Oct26 contract suggests downward pressure on long-dated European coal pricing.
- Bearish factors remain unconfirmed by specific fundamental data, as the current evidence is limited to price movement without accompanying inventory or consumption reports.
Key catalysts
- Future price direction will be monitored against official publications from the IEA and GIE regarding European energy storage and demand trends.
- Market participants should track official ICE contract specifications and updates for any changes in liquidity or settlement procedures for the API2 benchmark.
Key risks
- The primary risk to this analysis is the lack of fundamental supply/demand data, which prevents a causal assessment of the recent price decline.
- Reliance on delayed market data may obscure real-time volatility or rapid shifts in sentiment that are not captured in the current reporting window.
Upcoming reports
- The October 2026 contract is scheduled for expiration on 2026-10-31.
- Ongoing monitoring will utilize official data from ICE, EIA, and IEA to assess future developments in the European coal market.
Latest verified updates
- ICE public delayed futures data confirms the current price of 134.50 USD per metric tonne for the Oct26 contract.
- Official contract references identify this instrument as the ICE API2 Rotterdam Coal monthly future, denominated in USD per metric tonne for the European region.
Sources
Composite delayed futures data (Yahoo Finance, ICE and EEX)
- CME GroupOfficialofficial futures contract and settlement context
- CFTCOfficialofficial positioning data
- EIAOfficialofficial U.S. energy inventories, supply, and demand
- OPECOfficialofficial oil-market publications
- IEAOfficialglobal energy demand and supply analysis
- LBMAOfficialprecious-metals benchmark and market data
- World Gold CouncilAnalyst Opiniongold demand, flows, and market structure
- USGSOfficialofficial mine supply and minerals data
- ICEOfficialofficial TTF gas and API2 coal contract specifications
- EEXOfficialofficial German and European power contract information
- PJM Data MinerOfficialofficial PJM load, LMP, constraint, and outage data
- ERCOTOfficialofficial ERCOT load, price, reserve, and generation data
- ENTSO-EOfficialofficial European load, generation, and cross-border power data
- GIE AGSIOfficialofficial European gas-storage observations
- World Nuclear AssociationReportednuclear fuel-cycle and uranium supply context
- Reuters CommoditiesReportedprofessional commodity-market reporting
- S&P Global Commodity InsightsAnalyst Opinionprofessional supply, demand, and price opinion
- ING THINK CommoditiesAnalyst Opinionprofessional commodity strategy opinion
- Public commodity discussionSocial Signalunverified commodity sentiment and claims requiring confirmation
Last updated: No verified update available