SGX M42F Thermal Coal - Daily Update 28 January 2021
Friday, January 29 2021 - 06:14 PM WIB
170kt traded in the Thursday T session
• Feb-21 traded 5kt @ $44.85
• Mar-21 traded 5kt @ $42.85
• Mar-21 traded 5kt @ $42.75
• Mar-21 traded 15kt @ $42.40
• Mar-21 traded 25kt @ $42.25
• Mar-21 traded 10kt @ $42.15
• Apr-21 traded 15kt @ $39.90
• Mar-21 traded 10kt @ $42.85 (Mar-21/Apr-21 spread @ $2.80)
• Apr-21 traded 10kt @ $40.05 (Mar-21/Apr-21 spread @ $2.80)
• Mar-21 traded 25kt @ $42.40 (Mar-21/Apr-21 spread @ $2.50)
• Apr-21 traded 25kt @ $39.90 (Mar-21/Apr-21 spread @ $2.50)
• Mar-21 traded 10kt @ $42.75 (Mar-21/Apr-21 spread @ $2.50)
• Apr-21 traded 10kt @ $40.25 (Mar-21/Apr-21 spread @ $2.50)
15kt traded in the Thursday T+1 session
• Feb-21 traded 10kt @ $44.75
• Mar-21 traded 5kt @ $42.25
January month-to date:
Futures Volume at a record of 1,389kt, Open Interest at a record of 1,066kt
Total volume since January 2021: 1,389kt
Physical
Traders were starting to voice concerns of a lack of bids for Indonesian coal in the market. For low-rank, indicative buying interest was said to be around $44.00-45.00/t FOB, basis 3,800 kc NAR, for geared vessels loading in the second half of February, with offers heard at $46.00-47.00/t FOB, same basis. For March loading, a deal was understood to have concluded at $45.50/t FOB, for a geared vessel. Offers were heard at $46.00/t FOB, basis 3,800 kc NAR, with a bid said to have been at $42.00/t FOB, same basis, for March loading geared vessels. A market for an April loading geared vessel was bid at $40.45/t FOB, basis 3,800 kc NAR, and offered at $45.05/t FOB, same basis. On an index-linked basis, geared vessels of 3,800 kc NAR were reported bid at M42 plus $0.45/t and offered at plus $4.05/t for March loading. April loading shipments were bid at M42 plus $0.45/t and offered at plus $3.05/t, while May was bid at M42 minus $0.20/t and offered at plus $2.55/t.
Paper
For M42, February traded at $44.75, while March traded at $42.15-42.85 and April at $39.90-40.25. Through the day, January was heard bid at $46.00 and offered at $48.30, while February was bid at $44.00 and offered at $44.75. March was bid at $41.50 and offered at $42.25, with April bid at $38.00 and offered at $40.05. A spread for February vs March was bid at M42 plus $2.50 and offered at plus $3.25 and March vs April was bid at plus $2.50 and offered at plus $3.15.
Source: IHS Markit