SGX M42F Thermal Coal - Daily Update 20 September 2019
Monday, September 23 2019 - 05:19 PM WIB
September month-to date:
Futures volume at 72kt, open interest at 124kt
Total volume since January 2019: 0.76 million metric tonnes
Physical
Indonesian coal prices continued to rise, but momentum slowed as the week wore on. Low-rank coal traded at $32.50-32.75/t FOB, basis 3,800 kc NAR, for October loading geared vessels, while a Panamax was heard concluded at $33.75/t FOB, basis 3,800 kc NAR, for October loading. Lower c.v. coal was offered at $26.75-27.00/t FOB, basis 3,400 kc NAR, for October loading geared vessels, with no bids heard against. On a China-delivered basis, October arrival deals for Panamaxes into Guangdong settled at $42.60/t CFR, basis 3,800 kc NAR, up from traded levels last week at $42.00/t CFR, same basis.
Paper
M42 traded via SGX over the week at $32.70 for October for 30,000 t, up from $31.80/t last week. A trade also went through for Q1 2020 at $34.90, while fair value for the period was $34.88 this week, firming from $34.74 a week ago. Calendar 2020 was bid at $34.30 and offered at $35.80.
Source: IHS McCloskey.