SGX M42F Thermal Coal - Daily Update 8 January 2021
Monday, January 11 2021 - 05:54 PM WIB
60kt traded in the Friday T session
Feb-21 traded 10kt @ $43.75
Mar-21 traded 10kt @ $40.55
Feb-21 traded 20kt @ $43.75 (Feb-21/Mar-21 spread @ $3.20)
Mar-21 traded 20kt @ $40.55 (Feb-21/Mar-21 spread @ $3.20)
40kt traded in the Friday T+1 session
Feb-21 traded 5kt @ $43.95
Feb-21 traded 10kt @ $43.75
Mar-21 traded 5kt @ $40.75
Mar-21 traded 10kt @ $40.55
Feb-21 traded 5kt @ $43.95 (Feb-21/Mar-21 spread @ $3.20)
Mar-21 traded 5kt @ $40.75 (Feb-21/Mar-21 spread @ $3.20)
January month-to date:
Futures Volume at 257kt, Open interest at 645kt
Total volume since January 2021: 257kt
Physical
Indonesian coal prices rose for another week although low-rank material did not experience as significant a leap as sub-bit and bituminous material. Enquiries from China continued to support the market although spot buying activity from India remained weak. Deals for January were heard concluded at $47.00/t FOB, basis 3,800 NAR, for a geared vessel out of East Kalimantan and a gearless vessel out of South Kalimantan. A deal for a Panamax loading out of East Kalimantan in February was heard concluded at $47.50/t FOB, basis 3,800 kc NAR. A week ago, a February loading Panamax was offered at $45.35/t FOB, same basis. Numerous bids for February surfaced at $44.50-45.00/t FOB, basis 3,800 kc NAR, for geared vessels, against a single offer heard at $45.00/t FOB, same basis. Further out, March loading geared cargoes were bid at $41.00-42.00/t FOB, basis 3,800 kc NAR, against offers at $43.00-47.00/t FOB, same basis. The first M42 index-linked screen trade was transacted via globalCOAL. The deal was for 50,000 t of 3,800 kc NAR material loading in March and was done at M42 plus $0.45/t. M42 paper was transacting for market at around $40.55/t around the time of the deal.
Paper
Swaps trading remained active for M42 over the week with over a quarter of a million tonnes trading via SGX. Deals for January went through at $44.10-44.75/t, higher on the week from $43.35-43.75/t. February traded at $43.00-43.95/t, also rising from $41.85/t, last week. March traded at a range of $40.00-41.30/t, compared with $40.15/t, a week back.
Source: IHS Markit