SGX M42F Thermal Coal - Daily Update 19 April 2019
Monday, April 22 2019 - 03:39 AM WIB
April month-to date:
Futures volume 10kt, open interest 30kt
Total volume since April 2018: 644kt
Physical
Demand for Indonesian material remained stable, with multiple trades heard for low-rank coal. However, concerns were expressed from the buy-side regarding just how sustainable China's current appetite is for imports. A transaction went through on an index-linked basis at M42/ICI4 plus $0.25/t, for a geared vessel loading in May. In the low-rank market, geared vessels transacted at $37.00/t and $37.50/t FOB, basis 3,700 kc NAR, for April and May loading vessels respectively. Trades for May loading material settled at $37.75-38.50/t FOB and $38.75/t FOB, basis 3,800 kc NAR, for geared vessels and Panamaxes respectively, roughly stable to last week's levels.
Paper
In the paper market, markets for M42, as listed on SGX, were bid at $37.80/t against offers at $38.20/t, narrowing the gap on the week. May was bid at $38.15/t, against an offer at $39.00/t, while for June, the month was bid at $37.80/t, against an offer at $38.80/t. The Q3 contract averaged $37.50/t, rising from $37.15/t a week back. (ends)