SGX M42F Thermal Coal - Daily Update 17 July 2019

50kt traded in Wednesday T Session

• Jul-19 traded 20kt @ $35.60

• Aug-19 traded 10kt @ $35

• Aug-19 traded 10kt @ $33.65

• Sep-19 traded 10kt @ $33.65

 

July month-to date:

Futures volume at a RECORD 121kt, open interest at a RECORD 91kt

 

Total volume since April 2018: 950kt

 

Physical

Buying interest remained lacklustre across Asian thermal markets, with an air of uncertainty cast by talk of further import restrictions in China. The weather in Kalimantan has improved since last week with loading understood to be largely returning to normal, although buying interest for prompt cargoes remained weak. Downwards pressure was still weighing on front month low-rank prices, with a hand full of cargoes for August still reportedly available. A bid was heard at $34.50/t FOB, basis 3,800 kc NAR, for an August loading geared vessel, with an offer reported at $35.00/t FOB, same basis.

 

Paper

M42 paper, listed on SGX, traded at $33.65 for August and September, for 10,000 t each. This is down on the last August deal done on Monday at $35.00. Markets were reported bid for July at $34.95 and offered at $35.45, while August was bid at $33.50 and offered at $34.25. September was bid at $33.25 and offered at $34.00. (ends)