SGX M42F Thermal Coal - Daily Update 24 July 2020
Monday, July 27 2020 - 05:04 PM WIB
July month-to date:
Futures volume at 269kt, Open interest at 402kt
Total volume since January 2020: 2,004kt
Physical
Indonesian coal prices found support over the week from sustained tightness in low-rank supply in South Kalimantan and some Indian spot buying. The supply tightness, mainly arising from heavy rains in South Kalimantan, forced several traders to turn their attention to East Kalimantan. August loading material traded at around $24.50-25.50/t FOB, basis 4,200 kc GAR, for geared vessels destined for India and China. Prompt loading low c.v. material was heard traded at $23.90-25.00/t FOB, basis 4,200 kc GAR, for geared vessels, though these deals also have yet to be confirmed.
Paper
M42 swaps trading activity remained robust over the week with multiple deals done via SGX, though at lower levels on the week. August M42 transacted at $25.55-26.05/t, compared with $25.50-26.50/t, a week ago. Deals for September M42 settled at $26.35-26.80/t down on the week from $27.25/t. Further out, a Q4 contract for M42 settled at $28.00/t, easing from a deal at $28.40/t last week.
Source: IHS Markit.