SGX M42F Thermal Coal - Daily Update 24 April 2019
Thursday, April 25 2019 - 04:50 AM WIB
April month-to date:
Futures volume 15kt, open interest 35kt
Total volume since April 2018: 649kt
Physical
Indonesian suppliers said that support from China was healthy, mostly with enquiries for low c.v. coal. However, many producers have few spot cargoes available. A Jakarta-based trader said, "Traders will most likely have some cargo but most suppliers do not have shipments to spare." For low-rank, an offer was heard for a May loading Panamax at $39.00/t FOB, basis 3,800 kc NAR. There was also talk of a separate May loading Panamax trading at $39.75/t FOB, basis 3,800 kc NAR, although this could not be confirmed at the time of writing. Another deal, for premium quality material, was also heard done at just over $40.00/t FOB, basis 3,800 kc NAR, again for a May loading Panamax. Geared and grabbed cargoes were still bid at $38.25-38.50/t FOB, basis 3,800 kc NAR, for May loading, against offers said to be around $39.00/t FOB, same basis.
Paper
Paper markets continued to firm today in Asian trading, largely led by gains for prompt Newcastle. M42 paper, as listed on SGX and ICE, was bid at $39.00/t for both May and June. (ends)