SGX M42F Thermal Coal - Daily Update 22 September 2020

5kt traded in Tuesday T session

• Nov-20 traded 5kt @ $27

 

September month-to date:

Futures volume at 255kt, Open interest at a record 567kt

 

Total volume since January 2020: 2,634kt

 

Physical

While Indonesian prices were rising, most of the interest was said to be coming from participants taking positions, rather than requests coming directly from end users. Low-rank was heard trading at around $25.00/t FOB, basis 4,200 kc GAR, for Panamaxes loading in October and November. An offer for geared vessels was heard at $25.50/t FOB, basis 3,800 kc NAR, for October loading, although no bid was reported. A market for a November loading geared vessel was reported bid at $23.75/t FOB, basis 3,800 kc NAR, against an offer at $28.00/t FOB, same basis.

 

Paper

M42, traded via SGX at $27.00 for November, up $0.60 on the last November deal done on Monday at $26.40. Earlier in the day, September was bid at $23.20 against an offer at $23.40, while October was bid at $25.00 and offered at $27.00. November was bid at $26.40 and offered at $27.10.

 

Source: IHS Markit