SGX M42F Thermal Coal - Daily Update 19 February 2021
Monday, February 22 2021 - 07:03 PM WIB
15kt traded in the Friday T session
NLT
• Mar-21 traded 5kt @ $40.75
• Mar-21 traded 10kt @ $39.75
Swaps
• NIL
February month-to date:
Futures Volume at 538kt, Open Interest at 929kt
Swaps Volume at 0kt, Open Interest at 30kt
Total volume since January 2021: 2,007kt
Physical
Values for Indonesian material rose on the week as market participants from China returned following the Lunar New Year break. Deals for low-rank material were seen settling at stable to higher levels on the week. India remained quiet with indicative bids heard at levels significantly lower than where Indonesian miners are valuing their cargoes. Heavy rains understood to remain a challenge for producers with several saying February and March loading material has been slower than ideal. "We experienced delays in January and this has affected loading for February," a source from a large producer said. March loading low c.v. coal was heard trading at $38.50-39.50/t FOB, basis 3,800 kc NAR, for a geared vessels. A week back, deals for low-rank settled at $38.60-39.50/t FOB, basis 4,200 kc GAR, for March loading geared vessels. On an index-linked basis, a bid was heard at M42 flat, basis 3,800 kc NAR, for an April loading geared vessel, with no offers heard against.
Paper
Post-Lunar New Year deals in the Asian swaps market rebounded to stronger levels week on week. February deals for M42 settled via SGX at $39.60/t, up from $38.10-39.00/t last week. Deals for March went through at $38.90-40.25/t, compared with $37.10-39.40/t, in the week prior, while April traded at $38.50-39.50/t, also rising on the week from $37.00-38.50/t.
Source: IHS Markit