SGX M42F Thermal Coal - Daily Update 22 January 2020
Thursday, January 23 2020 - 08:01 PM WIB
January month-to date:
Futures volume at 37kt, Open interest at 293kt
Total volume since January 2020: 37kt
Physical
The pre-Lunar New Year slowdown took its toll on activity with few Chinese traders still in the market and India remaining quiet. Indonesia was still understood to be suffering some tightness due to flooding in some of the major mining areas, although there is yet to be any significant testing of the impact on price. A bid was reported at $35.00/t FOB, basis 3,800 kc NAR, for a February loading geared vessel. This is in line with buy-side interest reported elsewhere, although traders were reporting that activity had dropped off significantly, with most Chinese buyers already away for the coming Lunar New Year holiday.
Paper
M42 paper, listed on SGX, was quiet ahead of the Lunar New Year Holiday. February was bid at $35.25 and offered at $35.85, while March was bid at $34.95 and offered at $35.60. Further out, Q2-20 was bid at $34.25 and offered at $35.65.
Source: IHS McCloskey