SGX M42F Thermal Coal - Daily Update 19 July 2019
Monday, July 22 2019 - 07:00 PM WIB
July month-to date:
Futures volume 141kt, open interest 111kt
Total volume since April 2018: 970kt
Physical
Prices for low-rank and sub-bituminous Indonesian coal fell further on the week, following reports that China's import controls had spread to more ports and triggering fears of over-supply. For low-rank an index linked trade settled at flat to M42/ICI4, basis 3,800 kc NAR, for an August loading geared vessel. Fixed price business was heard trading at $34.10/t FOB, basis 3,800 kc NAR, for a July/August loading geared vessel. Another trade for similar grade coal settled at $34.40/t FOB, basis 3,800 kc NAR, for an August loading geared vessel. Gearless vessels were heard trading at $34.50-35.50/t FOB, basis 3,800 kc NAR, for August loading.
Paper
A flurry of deals totaling 60,000 t went through this week for M42 paper, as listed on SGX. Trades for July were done at $35.60/t, while August deals settled at $33.50-35.40/t - flat to the week prior. September traded at $33.60-33.65/t, lower than where fair value was seen last week at just over $35.00/t. (ends)