SGX M42F Thermal Coal - Daily Update 16 March 2020
Tuesday, March 17 2020 - 06:39 PM WIB
March month-to date:
Futures volume at 375kt, Open interest at 468kt
Total volume since January 2020: 827kt
Physical
Physical activity got off to a slow start for thermal markets in Asia, with many participants taking time to interpret the latest news on how COVID-19 is impacting supply and demand throughout the region. In Indonesia, prices remained under downwards pressure following falls last week. Bids were heard at $30.00-30.50/t FOB, basis 3,800 kc NAR, for April loading geared vessels. An offer was reported at $32.50/t FOB, basis 3,800 kc NAR, also for a geared vessel loading in April.
Paper
M42, listed on SGX, was bid for March today at $32.35 and offered at $33.00, while April was bid at $32.00 and offered at $32.90. M42 open interest on SGX stood at a new record of 468,000 t as of close of Friday, 13 March.
Source: IHS McCloskey