SGX M42F Thermal Coal - Daily Update 15 October 2020

2kt traded in Wednesday T+1 session

    Dec-20 traded 2kt @ $30.50

34kt traded in Thursday T session

    Oct-20 traded 2kt @ $28.50

    Nov-20 traded 20kt @ $30

    Nov-20 traded 10kt @ $29.75

    Dec-20 traded 2kt @ $30.55

October month-to date:

Futures volume at 157kt, Open interest at 436kt

Total volume since January 2020: 2,880kt

 

Physical

Some Chinese traders said that market activity was slowing down, not due to a lack of demand but because they could not secure enough cargoes from Indonesia for the fourth quarter. Meanwhile, miners were said to be cautious about offering cargoes too far out, focusing on October and November loading shipments. A geared vessel was understood to have traded at $29.50/t FOB, basis 3,800 kc NAR for November loading out of East Kalimantan. A bid was heard at $29.00/t FOB, basis 3,800 kc NAR, for a gearless vessel for the same loading month, although deals for similar material and vessels size were already heard at over $30.00/t FOB, same basis. A November loading geared vessel was heard offered at $30.50/t FOB, basis 3,800 kc NAR, with a bid reported at $28.00/t FOB, same basis.

 

Paper

M42 traded via SGX for November at $29.75 and $30.00, up from the $29.35 on Tuesday. December traded at $30.55, up marginally on Wednesday's $30.50 trade level, while October transacted at $28.50, which was up from $27.75 last Friday. Later in the day, October was bid at $28.00 and offered at $29.10, while November was bid at $29.70 and December was bid at $30.00.

 

 

Source: IHS Markit