SGX M42F Thermal Coal - Daily Update 20 July 2020

35kt traded in Monday T Session 

• Aug-20 traded 25kt @ $26.05

• Aug-20 traded 5kt @ $26.05 (Aug-20/Sep-20 spread @ $0.75)

• Sep-20 traded 5kt @ $26.80 (Aug-20/Sep-20 spread @ $0.75)

July month-to date:

Futures volume at 218kt, Open interest at 378kt

 

Total volume since January 2020: 1,953kt

 

Physical

Rain is understood to still be negatively impacting smaller Indonesian producers in South Kalimantan. A Jakarta-based trader shared, "The wet weather has not hit its peak yet. The bigger miners can cope but smaller players are worst hit." The heavy rain is also said to now be affecting some miners in East Kalimantan. For low-rank, a bid was reported at $24.65/t FOB, basis 3,800 kc NAR, for a geared vessel loading in September, with an offer against at $26.50/t FOB, same basis. There was talk of recent Indian buying interest for August and September at above $25.00/t FOB, basis 4,200 kc GAR.

 

Paper

M42 traded, via SGX, at $26.05 for a total of 30,000 t for August, while September traded at $26.80 for 5,000 t. Earlier in the day July was bid at $23.95 against an offer at $25.25, while August was bid at $25.35 and offered at $26.75. September was bid at $26.00 and offered at $27.10. Further out, Q4-20 was bid at $27.90 and offered at $28.95.

 

Source: IHS Markit.