SGX M42F Thermal Coal - Daily Update 11 September 2020

5kt traded in Friday T session:

    Oct-20 traded 5kt @ $24.25

September month-to date:

Futures volume at 167kt, Open interest at 489kt

Total volume since January 2020: 2,546kt

 

Physical

Indonesian thermal coal prices stabilised on the week, amid a slight uptick in buying interest from China and India. Low c.v. material traded at $21.75/t and at $22.50/t FOB, basis 3,800 kc NAR, for geared vessels loading in September and October respectively. The bid-offer gap generally remained wide with October bid at $21.75/t FOB, basis 3,800 kc NAR, against offers at $23.50-25.00/t FOB, same basis, for geared vessels. Last week, October deals were done at $22.00-23.10/t FOB, basis 4,200 kc GAR, for geared vessels. Further out in the year, November loading geared vessels were bid at $21.75/t FOB, basis 3,800 kc NAR, with no offers against, while bids for December were heard at $22.75/t FOB, basis 3,800 kc NAR, against an offer at $26.25/t FOB, same basis.

 

Paper

Momentum strengthened for M42 trading activity over the week with 127,000 t being cleared via SGX. Transactions for October settled at $23.80-24.25/t through the week, down from traded levels seen last week at $24.15-24.30/t, although prices firmed on Friday. The November contract traded at $25.20-25.45/t.

 

Source: IHS Markit