SGX M42F Thermal Coal - Daily Update 1 April 2020
Thursday, April 2 2020 - 06:50 PM WIB
April month-to date:
Futures volume at 0kt, Open interest at 348kt
Total volume since January 2020: 957kt
Physical
Spot market active for Indonesian cargoes was slowing with limited interest from India and uncertainty growing over China's import appetite. A bid for a low-rank cargo was heard late yesterday at $31.00/t FOB, basis 4,200 kc GAR, for an April loading geared vessel, although today there was talk of a deal being done for a similar cargo at $30.75/t FOB, same basis, although this could not be confirmed at the time of writing. Bids were said to be in short supply, with traders saying they had suppliers asking them to bid but they were trying to limit their exposure currently amid so much uncertainty.
Paper
M42, listed on SGX, activity was limited amid market uncertainty relating to COVID-19's impact on the industry and other supply and demand related factors. M42 was bid for April at $30.95 and offered at $32.00, while May was bid at $30.05 and offered at $32.00, and June was bid at $30.00 and offered at $32.00. March closed at a new record for volume with 505,000 t of M42 traded over SGX.
Source: IHS McCloskey