SGX M42F Thermal Coal - Daily Update 16 December 2020

61kt traded in the Wednesday T session

    Dec-20 traded 15kt @ $37.45

    Jan-21 traded 10kt @ $41.75

    Jan-21 traded 20kt @ $41.50

    Jan-21 traded 16kt @ $41.00

8kt traded in the Wednesday T+1 session

    Jan-21 traded 8kt @ $41.00

December month-to date:

Futures Volume 349kt, Open interest at 607kt

Total volume since January 2020: 4,028kt

 

Physical

Heavy rains persist in Indonesia's major mining regions, and while not optimal, supply is not significantly disrupted at most mining and loading areas. Few cargoes were heard offered in the market, with a few tonnes said to be available and those with are holding on to it get the best price. A geared vessel loading in January was heard trading at $40.60/t FOB, basis 3,800 kc NAR, although this could not be confirmed at the time of writing. There was also talk of another deal done at $41.75/t FOB, basis 3,800 kc NAR, for a January loading Supramax, but this also could not be confirmed. On an index-linked basis, cargoes were heard bid at M42 minus $0.50-0.65/t for 3,800 NAR material loading in February in a geared vessel, against an offer at plus $0.60-0.65/t. March loading geared vessels were heard bid at M42 minus $0.50-0.65/t and offered at plus $0.60-0.70/t.

 

Paper

M42 traded at $41.00-41.75 for January, which was down on yesterday's last traded level for January of $41.75/t. And December traded at $37.45. This all took the total volume of M42 on SGX past 4 mt for the year-to-date, up from 1.4 mt in the whole of 2019. During the day, M42 was bid for December at $37.00 and offered at $38.10 and January bid at $37.50 and offered at $42.00. February was bid at $35.45 and offered at $41.80, while March was bid at $37.00 and offered at $40.60.

 

Source: IHS Markit