SGX M42F Thermal Coal - Daily Update 19 May 2020
Wednesday, May 20 2020 - 05:57 PM WIB
May month-to date:
Futures volume at 117kt, Open interest at 207kt
Total volume since January 2020: 1,111kt
Physical
In Indonesia, one producer expressed surprise at price levels which remained firm on the week. "Prices for mid c.v. and low-rank coal are still positive," the source said. A deal for low-rank material went through at $26.25/t FOB, basis 4,200 kc GAR, for a June loading cargo headed to South India, a Jakarta-based trader said. Offers for June loading geared vessels were heard at $28.00-29.00/t FOB, basis 3,800 kc NAR. Further out, a bid was reported for a geared vessel loading in July at $27.00/t FOB, basis 3,800 kc NAR. An offer was also reported at $30.00/t FOB, basis 3,800 kc NAR, for an August loading geared vessel.
Paper
For M42, listed on SGX, May was heard bid at $25.60 and offered at $26.60, with June bid at $28.00 and offered at $29.25, while July was bid at $28.10 and offered at $29.40. A spread for June vs July was bid at minus $0.65 and offered at plus $0.05. Further out, Q4-20 was bid at $28.00 and offered at $29.10.
Source: IHS McCloskey