SGX M42F Thermal Coal - Daily Update 20 February 2020
Friday, February 21 2020 - 07:55 PM WIB
February month-to date:
Futures volume at 280kt, Open interest at 402kt
Total volume since January 2020: 392kt
Physical
Buying interest continues to slow in Asian thermal markets, resulting in many more offers than bids being reported. The same weak demand was starting to erode price expectations of Indonesian producers, although sub-bituminous prices appear to be holding up better than those for the more abundant low-rank. Low-rank cargoes were said to have transacted this week at $35.50-$36.00/t FOB, basis 3,800 kc NAR, for geared vessels loading in March. These are down from where a bid was reported earlier in the week at $36.25/t FOB, basis 3,800 kc NAR, for a March loading geared vessel. A market for a March loading Panamax was heard bid at $36.00-37.00/t FOB, basis 4,200 kc GAR, against an offer for premium quality coal at $38.00/t FOB, same basis. Offers for April loading geared vessels ranged from $35.85/t FOB to $37.00/t FOB, basis 3,800 kc NAR.
Paper
M42 paper, listed on SGX, was bid for February at $35.85 and offered at $36.35. Further out, March was bid at $34.75 and offered at $35.35, while April was bid at $34.45 and offered at $35.35.
Source: IHS McCloskey.