SGX M42F Thermal Coal - Daily Update 2 June 2020
Wednesday, June 3 2020 - 08:03 PM WIB
40kt traded in Tuesday T Session
Jun-20 traded 10kt @ $27.50
Q3-20 traded 30kt @ $28.00
June month-to date:
Futures volume at 71kt, Open interest at 322kt
Total volume since January 2020: 1,319kt
Physical
Activity remained limited for Indonesian material, with a lack of interest from Chinese buyers, who are understood to be struggling with half-year import quota levels. Some Indian buying interest was seen, but at significantly lower levels than being discussed last week. For low-rank, an offer was reported at $29.90/t FOB, basis 3,800 kc NAR, for a July loading geared vessel, although a bid was heard at $26.00/t FOB, same basis, from India. There was talk of a bid at around $28.00/t FOB, basis 3,800 kc NAR, for a late June loading geared vessel, although this could not be confirmed.
Paper
M42 traded via SGX again at $27.50 for June, the same level as the previous day, while Q3-20 traded three times at $28.00, also at the same level as a similar deal reported on Monday. Later, June was bid at $27.00 and offered at $27.75, while July was bid at $27.00 and offered at $28.60. Further out, Q3-20 was bid at $27.50 and offered at $29.30, with Q4-20 bid at $27.80 and offered at $29.00, with Q1-20 bid at $28.00 and offered at $34.00.
Source: IHS McCloskey