SGX M42F Thermal Coal - Daily Update 10 June 2020
Thursday, June 11 2020 - 05:09 PM WIB
10kt traded in Wednesday T Session
Jul-20 traded 5kt @ $25.85
Jul-20 traded 5kt @ $25.65
June month-to date:
Futures volume at 316kt, Open interest at 378kt
Total volume since January 2020: 1,564kt
Physical
Demand for spot cargoes remains weak with Chinese import quota problems and India now in monsoon season and demand there recovering slowly as it emerges from the lockdown. The low-rank market weakened further today, following news of a Chinese tender award at a level that would netback to value below $24.00/t FOB, basis 3,800 kc NAR. Deals were reported at $25.00/t FOB and $25.50/t FOB, basis 3,800 kc NAR, for June loading geared vessels. An offer was also heard at $25.50/t FOB, basis 3,800 kc NAR, for a July loading geared vessel.
Paper
Paper prices weakened in Asian trading. M42, listed on SGX, traded early a couple of times at $25.85 and then $25.65 for July, down on yesterday's last deal level of $26.00. Following the deals, June was offered at $27.00, while July was bid at $25.00 and offered at $26.00. Further out, Q3-20 was bid at $25.50 and offered at $27.00, with Q4-20 bid at $26.10 and offered at $27.50. There was also a bid reported for November at $26.00.
Source: IHS McCloskey