SGX M42F Thermal Coal - Daily Update 16 April 2019
Wednesday, April 17 2019 - 10:03 AM WIB
April month-to date:
Futures volume 10kt, open interest 30kt
Total volume since April 2018: 644kt
Physical
Inquiries from China for mid c.v. coal emerged. A Jakarta-based trader said that many April and early May laycans have been sold but the market was still hesitant about finalising prices for June. For low-rank, a bid was heard at $38.50/t FOB, basis 3,800 kc NAR, for a May loading Panamax. A bid was reported at $37.00/t FOB, basis 3,800 kc NAR, for a May or June loading geared vessel, with an offer reported for a May loading geared vessels at $39.00/t FOB, same basis.
Paper
M42 paper, as listed on SGX, was bid at $37.75/t for April and offered at $38.20/t. May was bid at $37.50/t against and offered at $38.50/t, while June was bid at $37.75/t and offered at $38.75/t. April/May spreads were bid at minus $0.04/t and offered at plus $0.40/t. Further out, M42 for Q3 2019 was bid at $36.00/t and offered at $38.25/t, while Q4 2019 was bid at $36.05/t against an offer at $38.25/t. (ends)