SGX M42F Thermal Coal - Daily Update 17 September 2019
Wednesday, September 18 2019 - 06:31 PM WIB
September month-to date:
Futures volume at 42kt, open interest at 94kt
Total volume since April 2018: 1.22 million metric tonnes
Physical
Indonesian markets have been finding support from Chinese and Indian demand since last week, especially for some short covering purchases of low-rank material. For low-rank, an offer was heard at $33.15/t FOB, basis 4,200 kc GAR, for a geared vessel loading in the second half of October. A Panamax for the same loading period was offered at $33.95/t FOB, basis 4,200 kc GAR. A trade was conducted between $32.50-32.75/t FOB, basis 4,200 kc GAR, for an October loading geared vessel.
Paper
Paper markets were up marginally on the day in Asian trading. M42, listed on SGX, was bid at $32.20 and offered at $32.50, while October was bid at $32.60 and offered at $32.75. November was bid at $32.75 and offered at $33.40, while December was bid at $32.75 and offered at $33.40. Further out, Q1-20 was bid at $34.50 and offered at $35.50. A spread for November vs December was bid at minus $0.90 and offered at plus $1.50.
Source: IHS McCloskey