SGX M42F Thermal Coal - Daily Update 23 October 2019

25kt traded in Wednesday T Session

• Nov-19 traded 25kt @ $35.40

 

October month-to date:

Futures volume at 72kt, Open interest at 192kt

 

Total volume since January 2019: 914kt

 

Physical

Sentiment among miners remains positive for prompt values, with some citing continuing supply issues relating to river levels. Buyers, however, do not currently appear to be too excited about chasing prices, with Chinese buyers keeping an eye on falling domestic coal prices and Indian bids said to still be in the range of $34.00-34.50/t FOB, basis 4,200 kc GAR, for prompt geared vessels. Deals were still getting done, though. A trade was heard at $34.75/t FOB, basis 3,800 kc NAR, for a November loading geared vessel. Another deal was also said to have been done at around $35.50/t FOB, basis 3,800 kc NAR, for a Panamax loading in November. An offer for a geared vessel was reported at $35.50/t FOB, basis 3,800 kc NAR, for November loading. A market for a December loading Supramax was heard bid at $34.75/t FOB, basis 3,800 kc NAR, against an offer at $36.25/t FOB, same basis.

 

Paper

M42, listed on SGX, traded for November at $35.40 for 25,000 t. This was up on the last November deal done at $35.00. Following the deal, November was bid at $35.00 and offered at $35.85. Elsewhere, October was bid at $33.90 for October and offered at $34.15, with December bid at $34.45 and offered at $35.95. Calendar 2020 was bid at $34.90 and offered at $35.90.

 Source: IHS McCloskey