SGX M42F Thermal Coal - Daily Update 16 August 2019
Monday, August 19 2019 - 04:59 PM WIB
August month-to date:
Futures volume at 92kt, open interest at 157kt
Total volume since April 2018: 1.15 million metric tonnes
Physical
Abundant supply and limited demand is keeping the pressure on Indonesian prices. Even though some miners are understood to be experiencing supply disruptions, this did little to lift prices. Trading momentum strengthened this week for low-rank material with multiple deals heard done for September. Geared vessels traded at $30.75-31.30/t FOB, basis 3,800 kc NAR, while Panamaxes loading in the same months traded at $31.50-33.00/t FOB, same basis. Index-linked deals were settled at M42/ICI4 plus $0.00/t, basis 4,200 kc GAR, for September loading geared vessels.
Paper
Paper trading was in a lull this week. Midpoint values for M42, as traded on SGX, eased further compared from the week prior. Fair value for M42 averaged $31.65/t in September, easing from traded levels a week back at $32.50-33.00/t. October fair value averaged $31.40/t, also down from where deals were concluded last week at $32.30/t. The Q4 contract averaged $31.35/t, weakening further from transacted levels last week at $32.20-33.05/t. (ends)