SGX M42F Thermal Coal - Daily Update 22 May 2019
Thursday, May 23 2019 - 02:25 AM WIB
10kt traded in Wednesday T Session
• Jun-19 traded 10kt @ $37.70
May month-to date:
Futures volume 30kt, open interest 90kt
Total volume since April 2018: 744kt
Physical
More offers than bids continue to be seen in the market for Indonesian material, with only limited Indian and Chinese buying interest reported. For low rank, Panamaxes were said to be more in favour than Supramaxes, especially with Chinese buyers. A June loading Panamax was heard bid at around $38.75/t FOB, basis 3,800 kc NAR, against offers at $39.00-39.50/t FOB, same basis. A bid was also heard at $37.00/t FOB, basis 3,700 kc NAR, for a geared vessel loading in June, although no corresponding offer was heard today.
Paper
M42 paper, as listed on SGX, was trading for June at $37.70/t for 10,000 t, which is the same price that June transacted yesterday. Later in the day, M42 was bid at $38.50/t for May against an offer at $39.05/t. June was bid at $37.70/t and offered at $$38.00/t, while July was bid at $37.55/t and offered at $38.00/t. Further out Q3 was bid at $36.60/t against an offer at $38.15/t. A spread for June versus July was bid at minus $0.15/t against an offer at plus $0.50/t. (*)