SGX M42F Thermal Coal - Daily Update 20 March 2019
Thursday, March 21 2019 - 04:21 AM WIB
March month-to date:
Futures volume 35kt, open interest 60kt
Total volume since April 2018: 634kt
Physical
Several Indonesian miners said that enquiries from China have reduced this week. "After a five-week long price rally, it has gone quiet," a source from a prominent miner said. Rain in Samarinda, East Kalimantan is understood to have slowed loading activity there. There was talk of trades being done this week at between $37.80-38.00/t FOB, basis 3,800 kc NAR, for April loading geared vessels, although these could not be confirmed at the time of writing. A bid for an April loading geared vessel was reported at $37.00/t FOB, basis 4,200 kc GAR. A geared vessel loading in May was offered at $38.85/t FOB, basis 4,200 kc GAR.
Paper
Paper prices continued to soften in Asian trading hours, although prompt Newcastle showed some initial support. M42 paper, as listed on SGX, was bid for March at $38.40/t and offered $39.00/t, with April bid at $36.25/t and offered at $38.25/t. A market for May was also reported, bid at $36.10/t and offered at $38.50/t. (ends)