SGX M42F Thermal Coal - Daily Update 4 January 2021

67kt traded in the Monday T session

Jan-21 traded 25kt @ $44.35

Jan-21 traded 22kt @ $44.30

Jan-21 traded 20kt @ $44.15

January month-to date:

Futures Volume at 67kt, Open interest at 557kt

Total volume since January 2021: 67kt

 

Physical

Miners were still trying to place their remaining January cargoes before moving on to February, with Chinese buyers said to be interested in late January, early February loading shipments. Bids were heard at $44.50-45.00/t FOB, basis 3,800 kc NAR, for January loading geared vessels out of East Kalimantan. This is in line with where a deal was reported on 31 December at $45.00/t FOB, basis 3,800 kc NAR, for a January loading vessel out of the same region. For March loading, a market for a geared vessel was reported bid at $42.00/t FOB, basis 3,800 kc NAR, and offered at $44.00/t FOB, same basis.

 

Paper

M42 traded multiple times at $44.15, $44.30 and $44.35 for January, up from its last traded value of $43.85 last week. After which January was bid at $44.30 and offered at $44.50. Through the day, M42 was heard bid for January at $43.95 and offered at $45.00, while February was offered at $43.00. A bid was also reported at $41.00 for Q1-21. A spread for February vs March M42 was bid at plus $1.40.

 

Source: IHS Markit