SGX M42F Thermal Coal - Daily Update 11 November 2019
Wednesday, November 13 2019 - 03:43 AM WIB
November month-to date:
Futures volume at 82kt, Open interest at 127kt
Total volume since January 2019: 1031kt
Physical
Weaker buying interest has been impacting Indonesian price expectations, although some grades appear to be holding up better than others. For low-rank the message was mixed. Late on Friday, a Panamax was understood to have transacted at $35.50/t FOB, basis 3,800 kc NAR, for December loading. Today however, a couple of traders noted that Chinese interest was very quiet and Indian buyers were retreating, awaiting further downwards movement. A bid was heard at $32.95/t FOB, basis 3,800 kc NAR, for a December loading geared vessel.
Paper
M42, listed on SGX, was bid for November at $33.40 and offered at $34.00. December was bid at $33.50 and offered at $34.25, while January was bid at $33.65 and offered at $34.15. Further out, Q1-20 was bid at $33.50 and offered at $34.15, after trading at $33.85 on Friday. Calander-20 was bid at $33.00 and offered at $34.85, following a deal late last week at $34.10.
Source: IHS McCloskey