SGX M42F Thermal Coal - Daily Update 23 January 2020

10kt traded in Thursday T Session

• Feb-20 traded 10kt @ $35.75

 

January month-to date:

Futures volume at 47kt, Open interest at 293kt

 

Total volume since January 2020: 47kt

 

Physical

Even with few buyers in the market, offers were still being reported at stronger levels than seen earlier in the week. For low-rank, deals were reported over the week done at around $35.00-35.50/t FOB, basis 3,800 kc NAR, for February loading geared vessels. Panamaxes were heard trading at $36.00/t FOB and $36.15/t FOB, basis 3,800 kc NAR, for February and March loading, respectively. An offer was heard at $36.25/t FOB basis 3,800 kc NAR, for a February-loading geared vessels, although buying interest was still being cited at around $35.00/t FOB, same basis. On an index-linked basis, a geared vessel loading in February was sold at flat to the average of the M42 and ICI4 indices.

 

Paper

M42 paper, listed on SGX, traded for February at $35.75 for 10,000 t. This was up on the last February deal reported on Tuesday at $35.20. Following the deal, February was bid at $35.60 and offered at $35.95, while March was bid at $35.50 and offered at $35.80.

 

Source: IHS McCloskey