SGX M42F Thermal Coal - Daily Update 17 September 2020

52kt traded in Thursday T session

    Oct-20 traded 50kt @ $24.75

    Nov-20 traded 2kt @ $25.75

September month-to date:

Futures volume at 229kt, Open interest at 546kt

Total volume since January 2020: 2,608kt

 

Physical

Some low-rank offers were moving higher, supported in part by firming Australian high-ash values. An offer was reported at $28.00/t FOB, basis 3,800 kc NAR, for an October loading geared vessel, although bids were scarce, so it is not clear if they are following the offers upwards. Other sources were still citing offer levels nearer to $23.00/t FOB, same basis. However, there was talk of deals being concluded at above $24.00/t FOB, basis 3,800 kc NAR, for September and October loading geared vessels, although these could not be confirmed at the time of writing. Other offers were reported at $29.00/t FOB and $30.00/t FOB, basis 3,800 kc NAR, for November and December loading geared vessels, respectively, although the bid for December was still back at $23.50/t FOB, same basis.

 

Paper

M42 traded via SGX at $24.75 for October for 50,000 t, which is up on the previous day’s traded level of $24.30. November also traded higher at $25.75 for 2,000 t, up from $25.45 late last week. Earlier in the day October was bid at $24.30 and offered at $25.00, while November was bid at $25.10 and offered at $26.15.

 

Source: IHS Markit