SGX M42F Thermal Coal - Daily Update 1 October 2020

42kt traded in Thursday T session

    Oct-20 traded 10kt @ $26.35

    Oct-20 traded 15kt @ $26.15

    Nov-20 traded 2kt @ $27.95

    Nov-20 traded 15kt @ $27.90

October month-to date:

Futures volume at 42kt, Open interest at 385kt

Total volume since January 2020: 2,765kt

 

Physical

Indian buyers have been cautious about following prices higher for low-rank because of the lack of clarity on Chinese import quotas. Their bids were said to have moved little from mid-September levels, not wanting to be stuck with higher priced cargoes should the price drop suddenly. East Kalimantan material was heard traded at $27.00/t FOB, basis 3,800 kc NAR, for an end-October loading geared vessel. A bid for a geared vessel loading in November was reported at $25.00/t FOB, basis 3,800 kc NAR, against an offer at $28.00/t FOB, same basis. A bid for a December loading geared vessel was also reported at $25.50/t FOB, basis 3,800 kc NAR. On an index-linked basis 3,800 kc NAR material was offered at M42 minus $0.10 for November and December loading geared vessels.

 

Paper

M42 traded via SGX for October at $26.15 for 15,000 t, which was down on the last October deal done at $26.45 last Friday. October traded later on at $26.35 and November traded at $27.90 and $27.95. Earlier in the day, October was bid at $26.35 and offered at $26.75, while November was bid at $27.65 and offered at $28.05. December was bid at $27.60 and offered at $29.15.

 

Source: IHS Markit