SGX M42F Thermal Coal - Daily Update 18 February 2020
Wednesday, February 19 2020 - 05:54 PM WIB
February month-to date:
Futures volume at 280kt, Open interest at 402kt
Total volume since January 2020: 392kt
Physical
Prices appeared to be softening from last week's levels as China steps back for the time being. As a result, offers were much more prevalent than bids. For low-rank cargoes, offers for March loading were reported at $37.25/t FOB, basis 3,800 kc NAR, in a geared vessel, and $38.25/t FOB, basis 3,800 kc NAR, in a Panamax. Further out, an April loading geared vessel was reported bid at $34.90/t FOB, basis 3,800 kc NAR, against an offer at $35.85/t FOB, same basis.
Paper
M42 paper, listed on SGX, was bid at $36.15 and offered at $36.45 for February. Further out, March was bid at $35.00 and offered at $35.60, while April was bid at $34.65 and offered at $35.35. A spread for March/April was also reported earlier in the day, bid at $0.50 and offered at $0.65.
Source: IHS McCloskey.