SGX M42F Thermal Coal - Daily Update 2 March 2020
Tuesday, March 3 2020 - 07:37 PM WIB
March month-to date:
Futures volume at 0kt, Open interest at 327kt
Total volume since January 2020: 452kt
Physical
Asian thermal markets got off to a cautious start to week, with what bids and offers there were being largely in line with where they closed on Friday. One Indonesian supplier said, "We are not releasing April material just yet in hopes of better bids." For low-rank, a bid was reported at $34.00/t FOB, basis 4,200 kc GAR, for a March loading geared vessel, although an offer was also heard later in the day at the same level. Offers for April loading geared vessels were reported at just above, and just below, $35.00/t FOB, basis 3,800 kc NAR.
Paper
It was a slow start to the week for paper markets in Asia. M42 paper, listed on SGX, was bid for March at $34.10 and offered at $34.65 for 5,000 t. Further out, April was bid at $33.70 and offered at $34.45, while May was bid at $33.50 and offered at $34.40. Closing out Q2-2020, June was bid at $33.45 and offered at $34.35.
Source: IHS McCloskey