SGX M42F Thermal Coal - Daily Update 7 December 2020

5kt traded in the Friday T+1 session

• Jan-21 traded 5kt @ $33.90

5kt traded in the Monday T session

• Jan-21 traded 5kt @ $35.90

 

December month-to date:

Futures Volume 100kt, Open interest at 417kt

 

Total volume since January 2020: 3,779kt

 

Physical

Several Indonesian coal suppliers remarked that demand for 4,200 kc GAR material remains high. Prices were still rising with some miners said to be scrambling trying to raise additional cargoes to sell into the spot market but were finding it difficult to push more tonnes through. A January loading geared vessel was heard bid at $34.00/t FOB, basis 4,200 kc GAR, for a Supramax against an offer at $36.00/t FOB, same basis. A deal was heard concluded at $35.50/t FOB, basis 3,800 kc NAR, for a February loading geared vessel, which is up on a deal heard last week at $34.20/t FOB, same basis, but for loading in January.

 

Paper

M42 traded at $35.90 for January, up from Friday's last traded level of $35.85. Later in the day, December was bid at $34.10 and offered at $35.10, while January was bid at $35.10 and offered at $36.50. A market for February was also heard, bid at $35.35 and offered at $36.20, and March was bid at $35.10 and offered at $36.55. A market for Q1-21 was bid at $35.25 and offered at $36.55. A spread for February vs March was heard bid at M42 minus $0.35 and offered at plus $0.25.

Source: IHS Markit.