SGX M42F Thermal Coal - Daily Update 2 January 2020

January month-to date:

Open interest at 291kt

 

Physical

The first trading day of 2020 has been relatively slow for Asian thermal activity, with many participants still on leave. For Indonesia low-rank, a January loading geared vessel was said to be bid at $33.40/t FOB, basis 3,800 kc NAR, with a corresponding offer at $34.15/t FOB, same basis. A separate market for the same vessel type and loading month was also reported, bid at $33.00/t FOB basis 3,800 kc NAR, and offered at $34.00/t FOB, same basis. February loading geared vessels was heard bid at $33.05/t FOB, basis 3,800 kc NAR, against an offer at $34.60/t FOB, same basis. On an index-linked basis, a deal was reported done at flat to the average of M42/ICI4 for a geared vessel of 4,200 kc GAR material loading in January.

 

Paper

M42 paper, listed on SGX, was bid for January at $33.85 and offered at $34.30, while February was bid at $33.85 and offered at $34.50, with March bid at $$33.75 and offered at $34.65. Further out, Q2-20 was bid at $33.00 and offered at $35.00, and Cal-20 was bid at $33.45 and offered at $34.75.

 

Source: IHS McCloskey.