SGX M42F Thermal Coal - Daily Update 6 October 2020

10kt traded in Tuesday T session

    Nov-20 traded 10kt @ $28.50

October month-to date:

Futures volume at 62kt, Open interest at 405kt

Total volume since January 2020: 2,785kt

 

Physical

With China out of the market, and other buyers around the region tending to follow its lead, bid-offer spreads remain wide. A market for a November loading geared vessel of low-rank material was heard bid at $26.25/t FOB, basis 3,800 kc NAR, against an offer at $30.00/t FOB, same basis. Other offers were said to have been heard at around $28.00/t FOB, basis 3,800 kc NAR, also for November loading. A Panamax was understood to have traded at between $28.50-29.00/t FOB, basis 3,800 kc NAR, for November loading. A market for a December loading geared vessel was heard bid at $26.50/t FOB, basis 3,800 kc NAR, and offered at $29.95/t FOB, same basis.

 

Paper

M42 traded via SGX at $28.50 for November, up on the previous day's traded level of $28.30. Earlier in the day, October was bid at $26.75 and offered at $27.50, while November was bid at $28.10 and offered at $28.55. December was bid at $28.30 and offered at $29.30.

 

Source: IHS Markit