SGX M42F Thermal Coal - Daily Update 2 October 2019
Thursday, October 3 2019 - 05:16 PM WIB
October month-to date:
Open interest at 128kt
Total volume since January 2019: 0.84 million metric tonnes
Physical
Holidays in China and India brought the Asian thermal markets to a near standstill. China is now into the second day of its Golden Week, with participants not expected back on desks until Tuesday next week. India was marking Mahatma Gandhi's birthday. South Korea is on holiday tomorrow for National Foundation Day. Several larger Indonesian suppliers said that they were now finalising the last few spot cargoes available to the end of the year. For low-rank, an offer was heard at $34.50/t FOB, basis 4,200 kc GAR, for a November loading Panamax, against a bid at $34.00/t FOB, same basis.
Paper
Prompt paper prices were generally softer in Asian trading, With Newcastle and API4 weakening, although M42 remained relatively steady. M42, listed on SGX, was bid for October at $33.20 and offered at $33.55, while November was bid at $33.20 and offered at $33.70 and December was bid at $33.15 and offered at $34.35. Further out, Q1-20 was bid at $34.25 and offered at $34.80.
Source: IHS McCloskey. (ends)