SGX M42F Thermal Coal - Daily Update 19 September 2019
Friday, September 20 2019 - 05:36 PM WIB
September month-to date:
Futures volume at 72kt, open interest at 124kt
Total volume since April 2018: 1.25 million metric tonnes
Physical
Short-covering activities in the Asian thermal markets have cooled down with most of the more urgent deals now settled. Little urgency for late October to early November loading cargoes has been seen in the market as yet. For Indonesian low-rank, an offer was heard at $33.75/t FOB, basis 4,200 kc GAR, for an October loading Panamax while the traded level reported yesterday was $33.75/t FOB, same basis. Lower-c.v. material was bid at $23.00/t FOB, basis 3,200 kc NAR, for an October loading geared vessel.
Paper
Paper prices were firming today in Asian trading, with prompt Newcastle and API4 both finding support, although M42 remained stable, following gains earlier in the week. M42, listed on SGX, was bid for October at $32.40 and offered at $32.95, while November was bid at $32.75 and offered at $32.40. Further out, Q1-20 was bid at $34.50 and offered at $35.25. (ends)