SGX M42F Thermal Coal - Daily Update 24 June 2019
Tuesday, June 25 2019 - 03:35 AM WIB
June month-to date:
Futures volume 40kt, open interest 80kt
Total volume since April 2018: 814kt
Physical
Many market participants are currently gathered in Bali for this year's Coaltrans conference. Sentiment for thermal is generally bearish for near term prospects, with Chinese demand still weak and concerns rising regarding import restrictions tightening in the second half of the year. The weather in South Kalimantan was said to be improving, although some areas were still suffering from flooding. Low-rank was heard bid at $35.00/t FOB, basis 3,800 kc NAR, for a July loading geared vessel.
Paper
M42 paper, listed on SGX, was understood to be stable, following the last traded level for July at $36.15 done on Friday. A market for June was also heard bid at $35.00 and offered at $36.50. Further out was M42 spreads for July versus August were reported bid at minus $0.20 and offered at plus $0.50. Spreads for Q3 versus Q4 were bid at minus $0.35 and offered at plus $0.80.