SGX M42F Thermal Coal - Daily Update 18 October 2019
Monday, October 21 2019 - 06:21 PM WIB
October month-to date:
Futures volume at 35kt, Open interest at 158kt
Total volume since January 2019: 877kt
Physical
An improvement in demand from China and India supported a rise in Indonesian prices this week. Deals for November loading low-rank settled at $34.00-34.50/t FOB, basis 4,200 kc GAR, for geared vessels, up on traded levels last week at $33.30/t FOB, same basis. A trade for October loading material was heard done at $34.00/t FOB, basis 3,800 kc NAR, for a geared vessel. A couple of deals went through on an index-linked basis at M42/ICI4 plus $0.75/t, basis 4,200 kc GAR, for October and November loading Panamaxes. Last week, offers for November loading geared vessels were at M42/ICI4 +$0.25/t, basis 4,200 kc GAR.
Paper
M42 traded via SGX at $34.00-$35.00 for November this week, stable to higher on the week. The fair value for the M42 Q1-2020 contract averaged $34.75, up from $34.25 the last week.
Source: IHS McCloskey.