SGX M42F Thermal Coal - Daily Update 17 February 2021

15kt traded in the Wednesday T session

 

NLT

• Apr-21 traded 10kt @ $39.00

• Mar-21 traded 5kt @ $39.50

Swaps

10kt traded in the Wednesday T+1 session

NLT

• Mar-21 traded 10kt @ $38.90

Swaps

February month-to date:

Futures Volume at 491kt, Open Interest at 916kt

Swaps Volume at 0kt, Open Interest at 30kt

Total volume since January 2021: 1,960kt

 

Physical

It was another slow day for Asian thermal market activity, but with it the last day before the end of the Lunar New Year holiday in China, expectations are that things will pick up before the end of the week. With the market still awaiting direction, bid-offer spreads remained wide for prompt loading cargoes. Firm numbers were hard to come by, although an offer was reported at $42.50/t FOB, basis 3,800 kc NAR, for a March loading geared vessel. However, a bid was heard at $38.50/t FOB, basis 3,800 kc NAR, for a March loading Panamax.

 

Paper

M42 traded at $39.00 for April, up on the previous day's transaction level for April at $38.50. March traded at $39.50 during the afternoon and then $38.90 in the evening session.  During the day, M42 was bid at $39.40 and offered at $40.50 for February, while March was bid at $38.50 and offered at around $42.00. April was bid at $38.50 and offered at $39.00. A spread for March vs April was bid at M42 plus $0.75, while April vs May and May vs June were also heard at plus $1.50.

 

Source: IHS Markit.