SGX M42F Thermal Coal - Daily Update 2 July 2020
Friday, July 3 2020 - 04:37 PM WIB
July month-to date:
Futures volume at 0kt, Open interest at 239kt
Total volume since January 2020: 1,735kt
Physical
Showers in South Kalimantan are understood to have impacted some miners, with a smaller producer heard struggling to perform on contracts. Heavy rain has brought about high swell at seas, particularly in the Kotabaru regency of South Kalimantan. However, this has not severely affected loading activity, a shipping source said. For low-rank, a deal from earlier in the week was reported to have been done at $23.00/t FOB, basis 3,800 kc NAR, for a July loading geared vessel. Another deal was reported at $23.50/t FOB, basis 3,800 kc NAR, for a geared vessel loading in July. A July loading geared vessel was heard bid today at $22.00/t FOB, basis 3,800 kc NAR, with an offer heard at $23.50-24.00t/ FOB, same basis. A bid for a geared vessel loading in August was bid at $23.25/t FOB, basis 3,800 kc NAR.
Paper
M42, listed on SGX, was bid for July at $24.30 and offered at $25.00, with August bid at $24.85 and offered at $26.00. Further out, Q3-20 was bid at $25.00 and offered at $26.75, while Q4-20 was bid at $27.20 and offered at $28.00. An offer for a spread of July vs August was reported at M42 minus $0.50, with Q3-20 vs Q4-20 offered at minus $1.00.
Source: IHS Markit