SGX M42F Thermal Coal - Daily Update 11 February 2020
Wednesday, February 12 2020 - 08:01 PM WIB
February month-to date:
Futures volume at 205kt, Open interest at 335kt
Total volume since January 2020: 317kt
Physical
The market remains bullish for prompt cargoes, with the coronavirus situation continuing to dominate most of the discussions. Offers were said to be climbing again for Indonesian low-rank, up to around $37.00/t FOB, basis 3,800 kc NAR, for March loading geared vessels. Bids, however, were still said to be back at $36.00-36.50/t FOB, basis 3,800 kc NAR, for the same loading month and vessel size. A March loading Panamax was reported bid at $37.00/t FOB, basis 3,800 kc NAR. For lower c.v. material, a bid was reported at $30.00/t FOB, basis 3,400 kc NAR, for a March loading geared vessel, while an offer was heard at $31.00/t FOB, same basis, also for March loading.
Paper
M42 paper, listed on SGX, was bid for February at $36.05 and offered at $36.80. Further out, March was bid at $35.75 and offered at $36.10, while April was bid at $35.55 and offered at $36.10.
Source: IHS McCloskey