SGX M42F Thermal Coal - Daily Update 22 July 2020

45kt traded in Wednesday T Session 

• Aug-20 traded 5kt @ $25.55

• Aug-20 traded 15kt @ $25.55 (Aug-20/Sep-20 spread @ $0.80)

• Sep-20 traded 15kt @ $26.35 (Aug-20/Sep-20 spread @ $0.80)

• Sep-20 traded 10kt @$26.35

 

July month-to date:

Futures volume at 263kt, Open interest at 408kt

 

Total volume since January 2020: 1,998kt

 

Physical

Weather-related supply tightness has moved up sellers' asking prices for sub-bituminous and low-rank cargoes. Rising prices, however, appear to have dampened some of the buying interest seen last week from China, although there were still said to be some Indian enquiries. Low-rank was heard bid today at $23.00/t FOB, basis 3,800 kc NAR, for an August loading geared vessel. A bid was also heard at $24.65/t FOB, basis 3,800 kc NAR, for a September loading geared vessel, against an offer  reported at $26.60/t FOB, same basis. Further out, an October loading geared vessel was bid at $25.00/t FOB, basis 3,800 kc NAR, versus an offer at $27.50/t FOB, same basis.

 

Paper

M42 traded via SGX at August traded at $25.55 for 20,000 t, which was down on Monday's traded level of $26.05. September traded at $26.35 for September for 25,000 t, which was down on the last September deal done at $26.80 on Monday. Later in the day, July was bid at $23.95 against an offer at $25.25, while August was bid at $25.30 and offered at $26.00. September was bid at $26.25 and offered at $26.75, and October was offered at $27.55. Further out, Q4-20 was bid at $27.75 and offered at $28.95, with Q1-21 bid at $28.75.

 

Source: IHS Markit.