SGX M42F Thermal Coal - Daily Update 19 August 2019

August month-to date:

Futures volume at 92kt, open interest at 157kt

Total volume since April 2018: 1.15 million metric tonnes

 

Physical

Bayan's force majeure was still in place, which is limiting the supply of 4,400 kc GAR material. This was understood to have created some tightness for this and some adjacent grades. One such impacted deal was done late on Friday, reported to have traded at $32.75/t FOB, basis 3,800 kc NAR, for a prompt loading geared vessel. However, a September loading geared vessel was also understood to have traded at just over $31.00/t FOB, basis 3,800 kc NAR, also late on Friday. Today, a bid for a September loading geared vessel was heard at $30.50/t FOB, basis 3,800 kc NAR. Bids for cargoes loading further out were still weak, with one reported at $30.00/t FOB, basis 3,800 kc NAR, for an October loading geared vessel.

 

Paper

M42 paper, listed on SGX, was bid for August at $31.60 and offered at $31.95, with September bid at $31.00 and offered at $31.70. Q4-19 was bid at $30.50 and offered at $31.75, with Q1-20 bid at $33.25/t and offered at $34.30, and Q2-20 bid at $33.35 and offered at $34.90. (ends)