SGX M42F Thermal Coal - Daily Update 15 May 2020

31kt traded in Friday T Session

• Jun-20 traded 5kt @ $28.45

• Jun-20 traded 5kt @ $28.30

• Jun-20 traded 5kt @ $28.20

• Jun-20 traded 5kt @ $28.15

• Jun-20 traded 5kt @ $27.50

• Q3-20 traded 6kt @ $28.50

 

May month-to date:

Futures volume at 117kt, Open interest at 207kt

 

Total volume since January 2020: 1,111kt

 

Physical

Indonesian material found more support over the week, as Chinese buyers were in the market on the back of lower domestic stocks, linked to the seasonal Daqin railway maintenance. Numerous deals were done for low c.v. material with traded prices rising over the week from $25.50-26.50/t FOB, basis 4,200 kc GAR, for June loading geared vessels. This marks a sharp rise from last week, where bids were heard at $22.10-23.00/t FOB, basis 4,200 kc GAR, against an offer at $24.00/t FOB, same basis, also for June loading geared vessels. Panamaxes loading in June traded at $26.75/t FOB, basis 4,200 kc GAR, while a cargo of branded East Kalimantan coal transacted at $28.50/t FOB, basis 3,800 kc NAR, also for a June loading Panamax.

 

Paper

M42 paper trading activity was refreshed over week with 110,000 t cleared via SGX. Deals for M42 went through this week for June at $27.50-28.45/t, sharply rising on the week from $25.60/t. A deal for July concluded at $28.00/t, while Q3 and Q4 contracts for M42 traded at $28.35-28.50/t and at $28.35/t, respectively.

 

Source: IHS McCloskey