SGX M42F Thermal Coal - Daily Update 20 April 2020
Tuesday, April 21 2020 - 06:53 PM WIB
April month-to date:
Futures volume at 20kt, Open interest at 351kt
Total volume since January 2020: 977kt
Physical
Limited thermal market activity was reported in Asia, following some sharp price falls from major origins last week. Spot buying interest remains scarce amid weak demand from regional generators, who have seen their markets shrink in response to COVID-19. Indonesian low-rank was offered for a Panamax loading in May at $28.00/t FOB, basis 3,800 kc NAR. For geared vessels, a bid was reported at $25.50/t FOB, basis 3,800 kc NAR, for May loading. An offer for a June loading shipment was heard at $30.75/t FOB, basis 3,800 kc NAR.
Paper
Prompt paper prices were relatively stable in Asian trading. M42, listed on SGX, was bid for May at $25.25 and offered at $29.75, while June was bid at $24.00 and offered at $29.75. Meanwhile, an offer for Q3-20 was seen at $29.75.
Source: IHS McCloskey