SGX M42F Thermal Coal - Daily Update 12 March 2021

45kt traded in the Friday T session

NLT

    Mar-21 traded 45kt @ $38.00

Swaps

    NIL

March month-to date:

Futures Volume at 280kt, Open Interest at 721kt

Swaps Volume at 0kt, Open Interest at 50kt

Total volume since January 2021: 2,402kt

 

Physical

Rising freight rates continued to dampen demand for Indonesian material with suppliers lowering offers and shipping sources confirming vessel delays. Low c.v. material was heard traded at $38.75/t FOB, basis 3,800 kc NAR, for an April loading Panamax. Offers for the month were aplenty and priced in a range of $37.50-40.00/t FOB, same basis, though no bids were heard against. Further out, May loading geared vessels were bid at $35.50/t FOB, basis 3,800 kc NAR, against an offer at $39.00/t FOB, same basis. A March loading geared vessel was offered at $39.50/t FOB, basis $39.50/t FOB, basis 3,800 kc NAR, but there was little appetite for prompt loading material. Last week, trades for low-rank coal settled at $38.00-40.00/t FOB, basis 3,800 kc NAR, for March and at $38.00-38.50/t FOB, same basis, for April.

 

Paper

Multiple deals were concluded for M42 this week via SGX, although activity was generally slow. Trades were mainly centered on March and April parcels. Deals for March concluded at $38.00-38.25/t, rising on the week from $37.25-37.75/t. April trades settled at $37.25-37.50/t, versus $36.55-38.20/t in the week prior.

 

Source: IHS Markit