SGX M42F Thermal Coal - Daily Update 9 September 2020

62kt traded in Wednesday T session:

    Oct-20 traded 37kt @ $23.90

    Oct-20 traded 5kt @ $23.80

    Oct-20 traded 10kt @ $23.80 (Oct-20/Nov-20 spread @ $1.40)

    Nov-20 traded 10kt @ $25.20 (Oct-20/Nov-20 spread @ $1.40)

September month-to date:

Futures volume at 112kt, Open interest at 446kt

Total volume since January 2020: 2,491kt

 

Physical

Interest from India has recently emerged, which may absorb some volumes of Indonesian low-rank material. However, bidding levels from India remain low at $21.50-22.00/t FOB, basis 3,800 kc NAR, for geared vessels loading after mid-September, to meet post-monsoon demand. A separate bid for low-rank was heard at $22.75/t FOB, basis 3,800 kc NAR, for a geared vessel in September, with no offers heard against. Bids for October were lower at $21.75/t FOB, basis 3,800 kc NAR, for a geared vessel, against an offer at $23.50/t FOB, same basis. Several other bids emerged at $21.75/t and $22.75/t FOB, basis 3,800 kc NAR, for November and December loading geared vessels respectively, though both attracted no offers.

 

Paper

M42 traded via SGX on Wednesday at $23.90 for 37,000 t for October. This is down on the last October trade which settled earlier in the week at $24.00. Later on Wednesday, September was bid at $22.50 and offered at $23.50, while October was bid at $23.80 and offered at $24.50. A market emerged for November bid at $24.90 and offered at $25.60.

 

 

Source: IHS Markit