SGX M42F Thermal Coal - Daily Update 23 December 2020
Friday, December 25 2020 - 12:53 AM WIB
78kt traded in the Wednesday T session
Jan-21 traded 8kt @ $43.00
Feb-21 traded 10kt @ $40.85
Mar-21 traded 5kt @ $39.20
Mar-21 traded 5kt @ $39.15
Mar-21 traded 25kt @ $39.20 (Mar-21/Apr-21 spread @ $1.50)
Apr-21 traded 25kt @ $37.70 (Mar-21/Apr-21 spread @ $1.50)
December month-to date:
Futures Volume at a record 848kt, Open interest at a record 848kt
Total volume since January 2020: 4,527kt
Physical
The upwards momentum in prices seems to be stuttering with prices seemingly not moving any higher. Loading out of Taboneo continues to struggle, with high sea swells, making loading difficult, but elsewhere things were said to be proceeding as expected during monsoon conditions. For low-rank, a Panamax was heard trading at $45.00/t FOB, basis 3,800 kc NAR, for January loading out of East Kalimantan, the same level as a deal reported earlier in the week for a similar cargo. Offers were heard within a wide range $44.50-47.00/t FOB, basis 3,800 kc NAR, for geared vessels loading in January. There was a suggestion of a deal being done at $43.50/t FOB, basis 3,800 kc NAR, for a geared vessel loading in January, although this could not be confirmed at the time of writing. A February loading geared vessel was also heard offered at $43.00/t FOB, basis 3,800 kc NAR.
Paper
Paper markets were slowing down a little in Asian trading ahead of the Christmas holiday, although prices were relatively stable for prompt Newcastle and API4. M42 traded for January at $43.00, February at $40.85 and March at $39.15 and $39.20. A deal for April was also marked at $37.70. During the session, M42 was heard bid for February at $41.75 and offered at $43.00, while February was offered at $41.75 and March offered at $39.75. Further out, April was offered at $41.00, and May and June offered at $41.00. Spreads for February vs March were heard bid a M42 plus $1.50 and offered at plus $1.80, while March vs April was bid at plus $1.35 and offered at $1.60.
Source: IHS Markit