SGX M42F Thermal Coal - Daily Update 15 May 2019
Thursday, May 16 2019 - 02:15 AM WIB
May month-to date:
Futures volume 10kt, open interest 75kt
Total volume since April 2018: 724kt
Physical
Offers continue to outweigh bids for Indonesian cargoes. Low-rank material was also showing more offers than bids, ranging from $39.25-40.00/t FOB, basis 3,800 kc NAR, for June loading geared vessels. There was also talk of a trade for a May loading Supramax done at $39.00/t FOB, basis 3,800 kc NAR, although this could not be confirmed. While no new bids were reported, Chinese sources indicated that they were now below $39.00/t FOB, basis 3,800 kc NAR, for June loading geared vessels.
Paper
M42 paper, as listed on SGX, was bid at $38.95/t for May and offered at $39.60/t. June was bid at $38.70/t and offered at $38.80/t. Further out Q3 was bid at $37.60/t and offered at $39.00/t. (ends)