SGX M42F Thermal Coal - Daily Update 2 May 2019

May month-to date:

Futures volume 0kt, open interest 65kt

 

Total volume since April 2018: 714kt

 

Physical

While Chinese interest in Indonesian material waned ahead of its public holiday (1-4 May), a Jakarta-based trader said that Indonesian supply was thin anyway. "Traders may have some positions but Indonesian suppliers don't appear desperate to sell their coal," the trader said. An offer was heard yesterday for a May loading Panamax at $40.20/t FOB, basis 3,800 kc NAR. Before the break, Panamax deals were confirmed at $40.25/t FOB, basis 3,800 kc NAR, for May loading, and $40.80/t FOB, same basis, for June. For geared vessels, an indicative bid was heard at $38.50-38.75/t FOB, basis 4,200 kc GAR, for May loading.

 

Paper

M42 paper, as listed on SGX and ICE, was bid at $39.10/t for May and offered at $39.75/t. A market for June was bid at $39.00/t against an offer at $39.85/t while July was bid at $38.35/t against an offer at $39.75/t. August was bid at $37.70/t against an offer at $39.75/t. Further out, Q3 2019 was bid at $37.55/t and offered at $39.85/t, while Q4 2019 was bid at $35.75/t against a bid at $40.25/t. M42 spreads for May/June were quoted bid at minus $0.75/t against an offer at plus $0.65/t, while spreads for June/July, July/August and August/September were all bid at minus $0.10/t and offered at plus $0.65/t. (ends)