SGX M42F Thermal Coal - Daily Update 18 August 2020
Wednesday, August 19 2020 - 05:03 PM WIB
48kt traded in Tuesday T session:
Q4-20 traded 48kt @ $25.70
August month-to date:
Futures volume at 128kt, Open interest at 423kt
Total volume since January 2020: 2,268kt
Physical
Wide bid-offer spreads continue to limit market activity in Asian thermal markets, although a heatwave in China has resulted in a jump in daily electricity consumption, which has increased hopes for some additional demand for coal. An offer for a gearless vessel of low-rank, loading in September, was reported at $24.00/t FOB, basis 3,800 kc NAR. For geared vessels, offers for September loading shipments were reported at $23.50-24.50/t FOB, basis 3,800 kc NAR. An October loading geared vessel was bid at $23.25/t FOB, basis 3,800 kc NAR, against an offer at $25.25/t FOB, same basis. Index-linked markets were reported from yesterday, bid at M42 minus $0.95/t and offered at minus $0.15/t, for cargoes of 3,800 kc NAR for loading in September. A market for October was bid at M42 minus $0.85/t and offered at minus $0.15/t, while November was bid at minus $0.75/t and offered at minus $0.15/t.
Paper
M42, listed on SGX, traded multiple times at $25.70 for Q4-20, which is down on the last Q4-20 deal done last week at $26.25. August was bid at $23.80 and offered at $24.20, with September bid at $23.40 and offered at $24.00, while October was bid at $23.85 and offered at $25.00. Further out, Q4-20 was bid at $25.25 and offered at $26.00, while Q1-21 was bid at $26.60 and offered at $29.05.
Source: IHS Markit