SGX M42F Thermal Coal - Daily Update 17 April 2020
Monday, April 20 2020 - 06:32 PM WIB
April month-to date:
Futures volume at 20kt, Open interest at 351kt
Total volume since January 2020: 977kt
Physical
Indonesian coal prices continued on a downward trend for an eighth consecutive week, on the back of fast declining demand. Deals for geared vessels settled at $27.90-30.00/t FOB, basis 3,800 kc NAR, for April, declining from $30.25/t FOB, same basis, last week. Further out in May, trades settled at $27.50-28.00/t FOB, basis 3,800 kc NAR, also for a geared vessels. An Indonesian trader said that enquiries for low-rank coal were heard from South Indian coastal power plants, even as other Indian buyers requested for laycans to be deferred. An index-linked offer emerged at M42/ICI4 plus $0.00/t, basis 4,200 kc GAR, for a geared vessel loading in May.
Paper
Market uncertainty dampened swaps trading activity over the week. Fair value for M42 in April was $29.70/t, down from traded levels the week pervious at $30.60/t. May M42 averaged $27.40/t, sliding from a transacted price of $29.00/t, a week back. Markets were last reported bid at $28.30 for April, with an offer at $30.30. Further out, May was bid at $25.25 and offered at $29.75, while June was bid at $26.50 and offered at $29.75. A bid for July was reported at $26.00.
Source: IHS McCloskey