SGX M42F Thermal Coal - Daily Update 18 March 2021

15kt traded in the Thursday T session

NLT

    May-21 traded 10kt @ $39.00

    May-21 traded 5kt @ $38.85

Swaps

    NIL

March month-to date:

Futures Volume at 475kt, Open Interest at 831kt

Swaps Volume at 0kt, Open Interest at 50kt

Total volume since January 2021: 2,597kt

 

Physical

Heavy rain continues to plague miners in parts of South Kalimantan. Several key producers there said that they were mining in less than ideal conditions with downpours lasting up to 12 hours at some concessions. Low-rank was heard offered at $36.50/t FOB, basis 3,800 kc NAR, for a geared vessel loading in April, following a deal done earlier in the week at $36.25/t FOB, same basis, also for a geared vessel loading in April. On an index-linked basis, an offer was reported at index plus $0.50/t FOB, for a geared vessel of 3,800 kc NAR material loading in March. For lower c.v. material, April loading geared vessels were heard offered at $32.00/t FOB, basis 3,400 kc NAR, and $30.00/t FOB, basis 3,350 kc NAR.

 

Paper

M42 traded at $38.85 for May in the morning session, this was up on where it last traded yesterday at $38.75. Later in the afternoon, May traded higher at $39.00. During the day, March was bid at $37.60 and offered at $37.95, April was last heard bid at $37.20 and offered at $39.25, while May was bid at $38.20 and offered at $40.25. June was heard bid at $38.60. Further out, Q2-21 was bid at $38.35 and offered at $39.25, while Q3-21 was bid at $35.00. A market for Q4-21 was bid at $32.00 and offered at $40.00. A spread for April vs May was heard bid at M42 minus $1.50 and offered at minus $0.15, while May vs June was offered at minus $0.10.

 

Source: IHS Markit