SGX M42F Thermal Coal - Daily Update 10 December 2020

15kt traded in the Thursday T session

▪ Jan-21 traded 5kt @ $38

▪ Feb-21 traded 5kt @ $38.50

▪ Mar-21 traded 5kt @ $38.50

 

December month-to date:

Futures Volume 140kt, Open interest at 450kt

 

Total volume since January 2020: 3,819kt

 

Physical

Chinese buying interest continues to support the market, especially for prompt loading cargoes, although Indian interest has also been improving, albeit the need is not as immediate as China's. A market from earlier in the week for a December loading geared vessel was heard bid at $35.00/t FOB, basis 3,800 kc NAR, against an offer at $36.00/t FOB, same basis, although offers were said to have retreated since. There was talk of a January loading Panamax trading at $37.00/t FOB, basis 3,800 kc NAR, although this could not be confirmed at the time of writing. Other offers were said to have been seen below that however.

 

Paper

M42 traded at $38.00 for January, up sharply on the previous day's traded level of $37.15. Earlier in the day, M42 was bid for December at $34.50 and offered at $36.00, while January was bid at $37.50 and offered at $38.00. Q1-21 was bid at $36.50 and offered at $38.25. Deals for February and March were also concluded at $38.50 later in the day.

 

Source: IHS Markit.