SGX M42F Thermal Coal - Daily Update 22 July 2019
Tuesday, July 23 2019 - 05:00 PM WIB
July month-to date:
Futures volume 141kt, open interest 111kt
Total volume since April 2018: 970kt
Physical
Low-rank Indonesian prices remained under pressure, following a sharp price drop towards the end of last week. Concerns were raised of oversupply, especially for low-rank products. Deals from late last week, and over the weekend were done at $34.50-35.00/t FOB, basis 4,200 kc GAR, for August loading Panamaxes. Today a market was heard bid at $34.00/t FOB, basis 3,800 kc NAR, for an August loading geared vessel, against offers at $34.30-34.50/t FOB, same basis. Chinese traders were reporting lower price expectations at $33.00-33.50/t FOB, basis 3,800 kc NAR, for August loading geared vessels.
Paper
M42 paper, listed on SGX, was bid for August at $33.35 and offered at $34.00, with September bid at $33.00 and offered at $34.00. October was bid at $32.70 and offered at $34.05. Further out, Q4-19 was bid at $32.75 and offered at $34.05, with Q1-20 bid at $33.15 and offered at $36.50. Spreads were reported for both August vs September and September vs October, bid at $0.05 against offers at $0.35. (ends)