SGX M42F Thermal Coal - Daily Update 27 November 2020

12kt traded in the Friday T session

    Dec-20 traded 7kt @ $33.15

    Dec-20 traded 5kt @ $32.75

November month-to date:

Futures Volume 239kt, Open interest at 367kt

Total volume since January 2020: 3,669kt

 

Physical

A Chinese buying spree boosted Indonesian thermal prices this week, as end-users moved to secure December and January cargoes. "Demand has improved. Supply for 3,800 kc NAR is quite scarce and there's been a surge in enquiries for 3,400 kc NAR material," a Jakarta-based trader said. Deals for December loading Panamaxes were heard settled over the week at $32.00/t FOB, basis 3,800 kc NAR, while details of an unconfirmed deal emerged at $32.50/t FOB, same basis, for a geared vessel. The number of deals done on a China-delivered basis grew on the week with low-rank material transacting at $39.50-40.30/t CFR, basis 3,800 kc NAR, for December arrival Panamaxes into Guangdong.

 

Paper

Trading volumes in the Asian futures market eased slightly on the week, although deals went through via SGX at higher prices week on week. December M42 traded at $32.00-33.25/t across the week, up from $30.20-31.70/t a week ago. A deal for Q1-21 settled at $33.50/t.

 

 

Source: IHS Markit