SGX M42F Thermal Coal - Daily Update 23 May 2019

15kt traded in Thursday T Session

• Jun-19 traded 15kt @ $37.50

 

May month-to date:

Futures volume 45kt, open interest 90kt

 

Total volume since April 2018: 759kt

 

Physical 

Suppliers in Indonesia say that bidding levels have eased further as the week progresses. A Panamax of low-rank, loading in June, was said to have been bid at $38.30/t FOB, basis 3,800 kc NAR, against offers at $38.50-38.80/t FOB, same basis. Similar material loading in the same month but in a geared vessel was heard bid at $38.00/t FOB, basis 3,800 kc NAR, against an offer at $38.30/t FOB, same basis. For lower c.v. material, a deal was concluded at $29.75/t FOB, basis 3,400 kc NAR, for a prompt loading geared vessel. An unconfirmed offer for a cargo of premium, low sulphur material, was also heard at $32.25/t FOB, basis 3,400 kc NAR, for a June loading geared vessel. Other offers included $29.80/t FOB, basis 3,400 kc NAR, for a May loading geared vessel, and $31.50-32.00/t FOB, same basis, for July.

 

Paper

M42 paper, as listed on SGX and ICE, softened further, trading three times at $37.50/t for 5,000 t each, which is down on yesterday's $37.70/t traded level for the same month. Later in the day, M42 was bid at $38.50/t for May against an offer at $38.95/t. Following the deals, June was bid at $37.15/t and offered at $37.90/t, while July was bid at $37.00/t and offered at $38.00/t. Further out, Q3 2019 was bid at $36.50/t against an offer at $38.15/t. (ends)