SGX M42F Thermal Coal - Daily Update 13 June 2019
Friday, June 14 2019 - 03:53 AM WIB
June month-to date:
Futures volume 30kt, open interest 70kt
Total volume since April 2018: 804kt
Physical
Indications that prices could be firming started to emerge today, in response to weather related supply disruptions over the past week, culminating in some mines declaring force majeure. A Panamax was understood to have traded at around $37.00/t FOB, basis 3,800 kc NAR, for July loading. Earlier in the week offers were reported at $36.50/t FOB, basis 3,800 kc NAR, for similar shipments. Offers were still heard at between $35.50-36.00/t FOB, basis 3,800 kc NAR, for late June, early July loading. There were also signs that things could be firming for lower c.v. material, with bids heard at $28.00/t FOB, basis 3,400 kc NAR, for a late June/early July loading geared vessel and $28.50/t FOB, same basis, for a Panamax.
Paper
Paper was mixed in Asian trading today, with M42 paper moving higher and Newcastle weakening. M42 paper, as listed on SGX, moved higher, bid at $36.20/t and offered at $36.50/t for June, while July was bid at $35.25 and offered at $36.65/t.