SGX M42F Thermal Coal - Daily Update 2 September 2019
Tuesday, September 3 2019 - 04:37 PM WIB
September month-to date:
Futures volume at 0kt, open interest at 72kt
Total volume since April 2018: 1.17 million metric tonnes
Physical
Market participants are second-guessing miners' production targets for the remainder of the year, and what bearing this will have on prices. As things stand currently, many participants are concerned that the market will remain in oversupply, unless production is reined in during the remainder of the year. Low-rank supply was said to be tight, with values holding at similar levels to late last week, at around $31.00/t FOB, basis 4,200 kc GAR, for prompt loading geared vessels, although new bids or offers were heard.
Paper
Paper markets were largely unchanged on Friday's levels, although a modest firming was observed for prompt M42. M42 paper, listed on SGX, was bid for September at $31.25 and offered at $32.15, while October was bid at $31.20 and offered at $31.70. November was bid at $30.95 and offered at $32.35. A market for Q4-19 was bid at $31.25 and offered at $32.90. (ends)