SGX M42F Thermal Coal - Daily Update 9 April 2020
Monday, April 13 2020 - 06:23 PM WIB
10kt traded in Thursday T Session
May-20 traded 5kt @ $29 (May-20/Jun-20 spread @ $0)
Jun-20 traded 5kt @ $29 (May-20/Jun-20 spread @ $0)
April month-to date:
Futures volume at 20kt, Open interest at 351kt
Total volume since January 2020: 977kt
Physical
Persistently weak demand continued to exert downward pressure on Indonesian coal prices this week, even as more reports of miners slowing down on output emerged. Low-rank material traded for April at $30.25/t FOB, basis 3,800 kc NAR, for a geared vessel, compared with $30.75-31.00/t FOB, same basis, a week back. The bid-offer gap widened further out. Geared vessels loading in May were bid at $28.50/t FOB, basis 3,800 kc NAR, against offers at $32.65/t FOB, same basis. On an index-linked basis, offers for Indonesian material surfaced at M42/ICI4 plus $0.00/t, basis 4,200 kc GAR, for a geared vessel, loading in May and at M42/ICI4 plus $0.75/t, basis 4,200 kc GAR, for a June loading Panamax.
Paper
Swaps trading volumes and values eased on the week. Trades for M42 settled via SGX at $30.60/t for April, sharply down from multiple deals done for the same month last week at $31.30-31.90/t. Thursday, just before the holiday, saw May and M42 trade at $29.00/t.
Source: IHS McCloskey