SGX M42F Thermal Coal - Daily Update 17 March 2021

70kt traded in the Wednesday T session

NLT

    Mar-21 traded 30kt @ $37.50

    Apr-21 traded 15kt @ $37.75

    May-21 traded 10kt @ $38.65

    Q2-21 traded 15kt @ $38.50

Swaps

    NIL

March month-to date:

Futures Volume at 460kt, Open Interest at 821kt

Swaps Volume at 0kt, Open Interest at 50kt

Total volume since January 2021: 2,582kt

 

Physical

Heightened freight rates continue to make it difficult to do deals, but there are signs that some sellers are starting to drop their offers to get things moving.  A deal was said to have been concluded at $36.25/t FOB, basis 3,800 kc NAR, for an April loading geared vessel. Offers were heard at $36.75-37.50/t FOB, basis 3,800 kc NAR, for April loading Supramaxes. An offer for a Panamax was also reported at $39.00/t FOB, basis 3,800 kc NAR, for April loading, and another offer for slightly lower c.v. material for April in a geared vessel was heard at $36.00/t FOB, basis 3,700 kc NAR.

 

Paper

M42 traded at $38.65 for May in the morning session. This was the same level as it last traded at yesterday. March traded at $37.50, April traded at $37.75, while Q2-21 traded at $38.50. During the day, March was last heard bid at $37.00 and offered at $38.00, while April was offered at $39.25. May was heard bid at $38.50 and offered at $38.90, while June was bid at $38.40 and offered at $39.25. Further out, Q2-21 was bid at $38.00.

 

Source: IHS Markit