SGX M42F Thermal Coal - Daily Update 11 March 2020

5kt traded in Wednesday T Session

    Apr-20 traded 5kt @ $32.35

 

March month-to date:

Futures volume at 335kt, Open interest at 435kt

 

Total volume since January 2020: 787kt

 

Physical

Indonesia's main coal producing region has been hammered by torrential rains since February, and this is now beginning to translate into tighter supply. But despite the supply constraints, some believe it will do little to support currently weakening coal prices. For low-rank, a Panamax was understood to have been offered to China at $33.50/t FOB, basis 3,800 kc NAR, for April loading, with a bid reported at $33.00/t FOB, same basis. A deal for a late March, early April, loading geared vessel was heard concluded at $32.50/t FOB, basis 3,800 kc NAR. Another deal was heard done at $32.60/t FOB, basis 3,800 kc NAR, for April loading geared vessel. Offers were reported at $33.25-33.50/t FOB, basis 3,800 kc NAR, for geared vessels loading in April, with bids for similar cargoes reported at $31.50-32.00/t FOB, basis 3,800 kc NAR, for an April loading geared vessel.

 

Paper

M42, listed on SGX, traded at $32.35 for April in the evening. Earlier in the day March was bid at $32.65 and offered at $33.55. April was bid at $32.45 and offered at $32.90, down on yesterdays traded level of $33.00, while May was bid at $32.00 and offered at $33.55.

 

 

Source: IHS McCloskey