SGX M42F Thermal Coal - Daily Update 23 April 2019
Wednesday, April 24 2019 - 10:53 AM WIB
April month-to date:
Futures volume 15kt, open interest 35kt
Total volume since April 2018: 649kt
Physical
Loading out of anchorages in Tanjung Bara and Samarinda remains slow over a shortage of barges and floating cranes, several industry sources said. Demand for Indonesian material appears to be stable, although several Jakarta-based traders said that despite enquiries from China, deals were noticeably absent. "Everyone seems to be playing a game of wait-and-see," a Jakarta-based trader said. Bids for low-rank, however, were firming, reported at $37.75-38.50/t FOB, basis 3,800 kc NAR, for May loading geared vessels. An offer was also heard at $39.00/t FOB, basis 3,800 kc NAR, also for a May geared vessel. A Panamax was said to have been bid at $39.00/t FOB, basis 3,800 kc NAR, and offered at around $39.50/t FOB, same basis, for May loading.
Paper
Paper markets were firming in Asian trading hours, as activity returned after the Easter break. M42 paper traded for June at $38.95/t, cleared via SGX. M42 for April was bid at $37.85/t and offered at $39.05/t. A market for May was bid at $39.00/t and offered at $39.70/t, while June was bid at $38.65/t and offered at $39.25/t. (ends)