SGX M42F Thermal Coal - Daily Update 13 May 2019
Tuesday, May 14 2019 - 06:10 AM WIB
May month-to date:
Futures volume 0kt, open interest 65kt
Total volume since April 2018: 714kt
Physical
Talk from producers was still of supply tightness for prompt loading cargoes, although buying interest from some quarters was also understood to have retreated. For low-rank, a bid was reported at $39.50/t FOB, basis 4,200 kc NAR, for a geared vessel loading in June, with a corresponding offer heard at just above $40.00/t FOB, same basis.
Paper
M42 paper, as listed on SGX, was bid at $39.00/t for June and offered at $39.15/t. A market for July was bid at $38.45/t against an offer at $39.85/t while August was bid at $38.00/t against an offer at $39.75/t. Further out, Q3 and Q4 2019 were both offered at $39.50/t. M42 Spreads for July/August were reported bid at minus $0.10/t and offered at plus $0.55/t. (ends)