SGX M42F Thermal Coal - Daily Update 15 January 2021

195kt traded in the Friday T session

• Jan-21 traded 5kt @ $48.00

• Jan-21 traded 10kt @ $47.90

• Jan-21 traded 10kt @ $47.75

• Jan-21 traded 15kt @ $47.50

• Feb-21 traded 5kt @ $49.75

• Feb-21 traded 5kt @ $48.50

• Mar-21 traded 15kt @ $47.80

• Mar-21 traded 25kt @ $47.15

• Mar-21 traded 10kt @ $47.00

• Apr-21 traded 5kt @ $44.50

• Jan-21 traded 5kt @ $47.50 (Jan-21/Feb-21 spread @ $0.50)

• Feb-21 traded 5kt @ $48.00 (Jan-21/Feb-21 spread @ $0.50)

• Mar-21 traded 5kt @ $47.80 (Mar-21/Apr-21 spread @ $3.30)

• Apr-21 traded 5kt @ $44.50 (Mar-21/Apr-21 spread @ $3.30)

• Mar-21 traded 35kt @ $46.75 (Mar-21/Apr-21 spread @ $3.50)

• Apr-21 traded 35kt @ $43.25 (Mar-21/Apr-21 spread @ $3.50)

January month-to date:

Futures Volume at 647kt, Open interest at 786kt

 

Total volume since January 2021: 647kt

 

Physical

Supply from flash flood-hit Kalimantan remains tight, supporting thermal prices for yet another week as demand remained robust from both domestic and international buyers. The number of bids outweighed offers across most grades of coal as miners said that they were struggling to keep up with existing deliveries. Deals for February loading coal were heard settled at $48.00-48.50/t FOB, basis 3,800 kc NAR, for geared vessels. The previous week's traded levels for February were $47.50/t FOB, basis 3,800 kc NAR, for a Panamax. Low-rank markets for March were bid at $41.50-44.00/t FOB, basis 3,800 kc NAR, for geared vessels, against offers at $46.50-47.50/t FOB, same basis.

 

Paper

Rallying physical prices supported M42 activity on SGX, with deals from January through to June. Trades for January were concluded at $47.50-48.00/t sharply rising from $44.10-44.75/t the previous week, while February deals settled at $47.00-49.75/t, leaping on the week from $43.00-43.75/t. A total of 390,000 t transacted over the week, peaking on Friday when 195,000 was concluded.

 

Source: IHS Markit