SGX M42F Thermal Coal - Daily Update 12 February 2020
Thursday, February 13 2020 - 06:28 PM WIB
20kt traded in Wednesday T Session
• Mar-20 traded 15kt @ $35.75
• Apr-20 traded 5kt @ $35.45
February month-to date:
Futures volume at 225kt, Open interest at a RECORD 350kt
Total volume since January 2020: 337kt
Physical
Positivity could be found in the Asian thermal markets, with prompt cargoes in demand from Chinese buyers as domestic production remains curtailed. Offers for Indonesian low-rank were heard higher at $37.25/t FOB, basis 3,800 kc NAR, for February loading prompt geared vessels. Bids were still at $36.00-36.50/t FOB, also for 3,800 kc NAR, for March loading and the same vessel size. A March loading Panamax was reported offered at $42.00/t FOB, basis 4,000 kc NAR.
Paper
Prompt paper values continued to be mixed in Asia, although M42 softened. M42 paper, listed on SGX, traded at $35.75 for March 15,000 t and $34.45 for April 5,000 t. Earlier in the day, February was bid at $36.05 and offered at $36.80. Further out, March was bid at $35.50 and offered at $36.25.
Source: IHS McCloskey