SGX M42F Thermal Coal - Daily Update 11 December 2019
Thursday, December 12 2019 - 06:23 PM WIB
December month-to date:
Futures volume at 140kt, Open interest at 220kt
Total volume since January 2019: 1,254kt
Physical
For Indonesian low-rank, a Panamax was understood to have transacted at $35.00/t FOB, basis 3,800 kc NAR, for December loading. Another trade was said to be done at $34.20/t FOB, basis 3,800 kc NAR, for a December loading geared vessel, though it was yet to be validated. Offers were reported at $34.75-35.30/t FOB, basis 3,800 kc NAR, for December loading Panamaxes. A bid against a February loading geared vessel was heard at $33.70/t FOB, basis 3,800 kc NAR.
Paper
M42 paper, listed on SGX, was largely unchanged, bid at $34.05 for December and offered at $34.60. January was bid at $34.05 and offered at $34.55, while February was bid at $34.10 and offered at $34.55. Further out, Cal 20 was bid at $33.90 and offered $34.90. Spreads for January vs February were still bid at minus $0.25 against an offer at $0.15. A spread for February vs March was also reported at the same levels.
Source: IHS McCloskey.