SGX M42F Thermal Coal - Daily Update 10 February 2020

75kt traded in Friday T Session

• Mar-20 traded 25kt @ $36.10

• Mar-20 traded 50kt @ $36

 

February month-to date:

Futures volume at 205kt, Open interest at a RECORD 335kt

 

Total volume since January 2020: 317kt

 

Physical

Indonesian thermal coal prices found support over the week from persistent showers in Kalimantan and the return of some Chinese buyers after the extended Lunar New Year break. On an index-linked basis, trades for March were done at M42/ICI4 plus $0.25/t, basis 4,200 kc GAR, for a geared vessel, and at M42/ICI4 plus $1.00/t, same basis, for a Panamax. Low c.v. coal traded at $36.00-36.10/t FOB, basis 3,800 kc NAR, for geared vessels loading in March. A week back, similar material was offered at $35.65-36.50/t FOB, basis 3,800 kc NAR, for geared vessels, against bids at $34.00-34.45/t FOB, same basis. On a China-delivered basis, a March arrival Panamax concluded at $42.00/t CFR, basis 3,800 kc NAR.

 

Paper

Swaps trading activity in Asia picked up on the week with M42 transacting via SGX, at $35.25-36.50/t for February, up from last week's deals at $34.80-35.25/t and $36.00. Traded levels for the month rose gradually throughout the week. Trades for March were also concluded at $36.00-36.10/t. It was another record week for M42 trading with 205,000 t transacting.

 

Source: IHS McCloskey