SGX M42F Thermal Coal - Daily Update 11 August 2020
Wednesday, August 12 2020 - 05:04 PM WIB
August month-to date:
Futures volume at 104kt, Open interest at 372kt
Total volume since January 2020: 2,244kt
Physical
Some traders were heard moving a few distressed shipments at discounted prices, admitting they were under pressure to fulfil their term contracts with the miners. For low-rank Indonesian, a geared vessel loading in the second half of August from south Kalimantan was traded at $23.00/t FOB, basis 3,800 kc NAR. Another geared vessel of similar material loading in late August transacted at $23.50/t FOB, same basis. An August and September cross month laycan geared vessel transacted at $23.20/t FOB, basis 3,800 kc NAR. Further out, a geared vessel loading in the first half of October was heard bid at $23.75/t FOB, basis 3,800 kc NAR.
Paper
M42, listed on SGX, was bid for August at $24.15 and offered at $24.60, with September bid at $24.00 and offered at $24.85, while October was bid at $24.20 and offered at 26.25. Further out, Q4-20 was bid at $26.00 and offered at $27.30. A market for a spread for August versus September was bid at minus $0.65 against an offer at plus $0.25, while September vs October was bid at minus $0.95 and offered at minus $0.60.
Source: IHS Markit