SGX M42F Thermal Coal - Daily Update 10 September 2019
Wednesday, September 11 2019 - 05:04 PM WIB
September month-to date:
Futures volume at 11kt, open interest at 83kt
Total volume since April 2018: 1.19 million metric tonnes
Physical
The Indonesian government's benchmark price for thermal has hit a three-year low. The Harga Batubara Acuan (HBA) - used for settling coal royalties - is $65.79/t FOB, basis 6,322 kc GAR, for September, down 10% on the August HBA of $72.67/t FOB and the lowest level since September 2016. Low-rank was still bid at $32.00/t FOB, basis 4,200 kc GAR, for October loading geared vessels. An offer was reported at $33.00/t FOB, basis 3,800 kc NAR, for a geared vessel loading in October. A Panamax was offered at $34.00/t FOB, basis 3,800 kc NAR, for late September loading. An offer was also reported for September loading geared vessels at $35.50/t FOB, basis 4,000 kc NAR.
Paper
Prompt markets were relatively stable today in Asia, with modest increases reported for prompt API4 and M42. M42 paper, listed on SGX, continues to firm, with September bid at $32.35 and offered at $32.50, while October was bid at $32.60 and offered at $32.90.
Source: IHS McCloskey