SGX M42F Thermal Coal - Daily Update 18 November 2020

13kt traded in the Wednesday T session

    Nov-20 traded 4kt @ $29.25

    Nov-20 traded 2kt @ $29.15

    Dec-20 traded 7kt @ $30.55

November month-to date:

Futures Volume 247kt, Open interest at 516kt

Total volume since January 2020: 3,677kt

 

Physical

Rains were said to be intensifying in some mining regions although this was not yet understood to have been significantly impacting production currently. Prices were said to be firming on the back of more activity starting to emerge from China, with some power groups in the south said to be picking up spot cargoes of Indonesian material. An offer for a November loading geared vessel was heard at $30.50/t FOB, basis 3,800 kc NAR, which is much higher than offers reported earlier in the week at around $28.00/t FOB, basis 3,800 kc NAR. December loading geared vessels were heard offered at $29.50-30.50/t FOB. Meanwhile, bids were heard at $29.50/t FOB, basis 3,800 kc NAR for a December loading geared vessel and at $29.75/t FOB, same basis, for a December Panamax. January was still bid at $29.50/t FOB, basis 3,800 kc NAR, for geared vessels.

 

Paper

M42 paper traded at $29.15-29.25 for November and $30.55 for December, both were higher than their previous traded levels. Later in the day, M42 was bid at $29.15 for November and offered at $29.75, while December was bid at $30.50 and offered at $30.90. January was bid at $31.00 and offered at $31.45. Further out, a bid for Q1-21 was heard at $30.55 and offered at $32.15, and Calendar 2021 was bid at 30.40 and offered at $35.00.

 

Source: IHS Markit