SGX M42F Thermal Coal - Daily Update 19 December 2019

25kt traded in Thursday T Session

Jan-20 traded 25kt @ $34.15

 

December month-to date:

Futures volume at 240kt, Open interest at RECORD 315kt

 

Total volume since January 2019: 1,354kt

 

Physical

Asia's thermal markets remained slow, with Australian material holding firm while Indonesian softened slightly. For low-rank, a Panamax was understood to have transacted at $35.00/t FOB, basis 3,800 kc NAR, for January loading. For the same loading month, a geared vessel was bought index-linked at flat to the average of M42/ICI4, basis 4,200 kc GAR. A bid was reported at $34.00/t FOB, basis 4,200 kc GAR, for a January loading geared vessel.

 

Paper

M42 paper, listed on SGX, traded at $34.15 for 25,000 t loading in January, the same level as a trade on Tuesday. This makes December the record month for M42 volume, at 240,000 t traded, surpassing the previous record of 221,000 t in July this year. It also means that Q4 2019 has traded more than 0.5 mt, something achieved for the first time in Q3 this year. Later on in the day, January was bid at $33.80 and offered at $34.35, while February was bid at $34.05 and offered at $34.50. Rounding out the first quarter of next year, March was bid at $33.90 and offered at $34.75. Calendar 2020 was bid at $33.45 and offered at $34.55.

 

Source: IHS McCloskey