SGX M42F Thermal Coal - Daily Update 11 June 2019
Wednesday, June 12 2019 - 04:37 AM WIB
June month-to date:
Futures volume 30kt, open interest 70kt
Total volume since April 2018: 804kt
Physical
Flash floods have hit mining and logistics operations in South Kalimantan, with force majeure known to have been issued by a couple of miners. This has been impacting supply across the region, especially for low-rank material. It is not yet clear, however, if it will create enough tightness to counter the current slow demand period from India and China. For low-rank, an offer was reported at $36.00/t FOB, basis 4,200 kc NAR, for a June loading Panamax. For July loading, offers were reported at $36.00/t FOB, basis 4,200 kc NAR, for a geared vessel, and $36.20-36.50/t FOB, basis 3,800 kc NAR, for Panamaxes. A deal was understood to have been concluded yesterday at between $36.00-36.50/t FOB, basis 3,800 kc NAR, for a July loading Panamax.
Paper
M42 paper, as listed on SGX and ICE, traded today at $35.90 for June, down on the last June deal of $36.00 late last week. Following the deal, bids were reported at $35.60 for June, $35.75 for July and $35.20 for August. Further out, Q3 2019 was bid at $35.00 and offered at $37.05. (ends)