SGX M42F Thermal Coal - Daily Update 22 December 2020

45kt traded in the Tuesday T session

• Feb-21 traded 5kt @ $40.85

• Mar-21 traded 5kt @ $40.00

• Mar-21 traded 5kt @ $39.75

• Mar-21 traded 25kt @ $39.25

• Mar-21 traded 5kt @ $39.00

 

December month-to date:

Futures Volume at a record 770kt, Open interest at a record 807kt

 

Total volume since January 2020: 4,449kt

 

Physical

Poor weather conditions continue to create challenges along logistics chains across major mining regions, with high sea swells causing loading delays out of Taboneo. Other loading areas, however, were said to be less impacted. Prices continue to be well supported, although availability for prompt loading spot cargoes remains limited. For low-rank material, bids were heard at $45.00-46.00/t FOB, basis 3,800 kc NAR, for geared vessels loading in January. A Panamax was heard trading at $45.00/t FOB, basis 3,800 kc NAR, for January loading. A separate offer was reported at $47.00/t FOB, basis 3,800 kc NAR, for a January loading Panamax. Further out, an offer was also heard at $48.00/t FOB, basis 3,800 kc NAR, for a February or March loading Panamax.

 

Paper

M42 traded for March at $40.00, $39.75, $39.25 and $39.00, down on the previous day's traded level of $40.10 for the same month. February also traded lower at $40.85, down from $42.00, its last traded value. Over the day, M42 was heard bid for February at $41.25 and offered at $42.00, while March was offered at $39.75. Further out, April was offered at $41.00, with Q1-21 bid at $41.60 and offered at $44.00. A spread for February vs March was heard bid a M42 plus $1.50 and offered at plus $2.20.

 

Source: IHS Markit