SGX M42F Thermal Coal - Daily Update 13 July 2020

10kt traded in Monday T Session

    Aug-20 traded 5kt @ $25.50

    Sep-20 traded 5kt @ $26.10

July month-to date:

Futures volume at 82kt, Open interest at 267kt

Total volume since January 2020: 1,817kt

 

Physical

Asian thermal market activity was limited at the start the week, with Chinese buying interest still weak amid the ongoing lack of import quotas. Sentiment in early dealings seems to indicate that prices have stabilised, with some even suggesting some support, with additional interest appearing from India. An offer for a July loading Panamax was reported at $25.00/t FOB, basis 3,800 kc NAR. Meanwhile, a geared vessel loading in July was heard offered at $24.00/t FOB, basis 3,800 kc NAR. A market for an August loading geared vessel was reported bid at $23.20/t FOB, basis 3,800 kc NAR, against an offer at $25.75/t FOB, same basis. A deal was reported from Friday, done at around $24.00/t FOB, basis 3,800 kc NAR, for a geared vessel loading in August. This was up on deals reported earlier in the week in the range of $22.75-23.50/t FOB, basis 3,800 kc NAR.

 

Paper

M42, listed on SGX, traded at $25.50 for August and $26.10 for September. Earlier in the day, July was bid at $23.05 and offered at $24.50, with August bid at $25.25 and offered at $25.75, while September was bid at $25.50 and offered at 26.25. Further out, Q4-20 was bid at $27.50 and offered at $28.45 while Q1-21 was bid at $27.90.

 

Source: IHS Markit