SGX M42F Thermal Coal - Daily Update 29 April 2020
Thursday, April 30 2020 - 06:40 PM WIB
April month-to date:
Futures volume at 37kt, Open interest at 116kt
Total volume since January 2020: 994kt
Physical
Suppliers of Indonesian coal said they continue to deal with pushback from Indian buyers, while bids from China are still discouraging miners from offering into the spot market. Many are understood to be grappling with current prices and are struggling to reduce cost levels further. "It has been silent for us the past three days. We don't know what levels to offer at, given current prices," a Jakarta-based trader said. For low-rank, May loading geared vessels were understood to have traded at $23.50-24.00/t FOB, basis 3,800 kc NAR. A market for a June loading geared vessel was reported bid at $22.50/t FOB, basis 3,800 kc NAR, against an offer $26.75/t FOB, same basis.
Paper
M42, listed on SGX, was bid for May at $23.80 and offered at $24.75, while June was bid at $25.00 and July bid at $25.25. A bid was also reported for a spread for May vs June at minus $0.75. Further out, Q3-20 was bid at $25.25 while Q4 was bid at $25.50.
Source: IHS McCloskey