SGX M42F Thermal Coal - Daily Update 26 January 2021

10kt traded in the Monday T+1 session 

• Feb-21 traded 5kt @ $45.00 (Feb-21/Mar-21 spread @ $3.50)

• Mar-21 traded 5kt @ $41.50 (Feb-21/Mar-21 spread @ $3.50)

38kt traded in the Tuesday T session

• Feb-21 traded 10kt @ $44.75

• Feb-21 traded 5kt @ $44.75

• Feb-21 traded 5kt @ $44.50

• Feb-21 traded 10kt @ $44.40

• Mar-21 traded 5kt @ $41.65

• Mar-21 traded 3kt @ $41.25

5kt traded in the Tuesday T+1 session

• Feb-21 traded 5kt @ $44.40

 

January month-to date:

Futures Volume at a record of 1,174kt, Open interest at 1,002kt

 

Total volume since January 2021: 1,131kt

 

Physical

Prices continue to experience downwards pressure, mainly from changing sentiment from China, although futures prices there did start to stabilise. A transaction was heard at $48.50/t FOB, basis 3,800 kc NAR, for a late February loading Panamax into China, although this was considered to be low with bids still said to be higher than this at around $50.00/t FOB, same basis, for early February loading geared vessels. An offer for a February loading geared vessel was reported at $51.00/t FOB, basis 3,800 kc NAR.

 

Paper

For M42, a spread for February vs March traded at plus $3.25, which broke down into a leg of $44.75 for February and $41.65 for March. February also traded at $44.40-44.75 through the day, while march transacted at $41.25. Through the day, January was heard bid at $46.25 and offered at $49.90, while February was bid at $44.25 and offered at $44.75. March was bid at $41.25 and offered at $41.65, with April bid at $38.00 and offered at $39.20. A bid for Q1-20 was heard at $43.55 against an offer at $45.25. A spread for February vs March was bid at M42 plus $2.75 and offered at plus $3.60 and March vs April was bid at plus $2.50 and offered at plus $3.50.

 

Source: IHS Markit