SGX M42F Thermal Coal - Daily Update 15 April 2020
Thursday, April 16 2020 - 05:46 PM WIB
April month-to date:
Futures volume at 20kt, Open interest at 351kt
Total volume since January 2020: 977kt
Physical
The focus for Indonesian low-rank was another Chinese power group tender that concluded at a lower level than one awarded earlier in the week. Several major miners said that they were grappling with increased numbers of deferred cargoes from China and India in the past week, however, some enquiries for spot low-rank material from South Indian power plants had emerged, albeit limited. A deal was being talked about today for a geared vessel said to have transacted at around $28.00/t FOB, basis 3,800 kc NAR, for late April loading, although this could not be confirmed at the time of writing. Bid-offer spreads remain wide, with bids heard at around $27.00/t FOB, basis 4,200 kc GAR, for April and May loading cargoes. An offer for a May loading Panamax was reported at $30.00/t FOB, basis 3,800 kc NAR.
Paper
Prompt paper prices continued to soften in Asian trading today, with value for M42 moving lower for May. M42, listed on SGX, was bid for May at $27.00 and offered at $28.00. Meanwhile, bids were also reported for June and July at $26.00.
Source: IHS McCloskey