SGX M42F Thermal Coal - Daily Update 24 March 2021

30kt traded in the Wednesday T session

NLT

    Apr-21 traded 5kt @ $40.85 (Apr-21/May-21 spread @ $0.60)

    May-21 traded 5kt @ $40.25 (Apr-21/May-21 spread @ $0.60)

    Apr-21 traded 10kt @ $40.25 (Apr-21/May-21 spread @ $0.95)

    May-21 traded 10kt @ $41.20 (Apr-21/May-21 spread @ $0.95)

Swaps

    NIL

March month-to date:

Futures Volume at 640kt, Open Interest at 906kt

Swaps Volume at 0kt, Open Interest at 50kt

Total volume since January 2021: 2,762kt

 

Physical

Demand for Indonesian material appeared to be firming with enquiries heard from China and India. Various producing sources said that while rising freight prices remained cause for concern, customers continued to perform on commitments for both term and spot contracts. For low-rank, bids were heard at $38.00-39.50/t FOB, basis 3,800 kc NAR, for April loading geared vessels. May loading geared vessels were also heard bid at $38.00/t FOB, basis 3,800 kc NAR. Panamaxes, also loading in April and May, were bid at $40.00/t FOB, basis 3,800 kc NAR. An April loading geared vessel traded on an index-linked basis, at M42 index at plus $0.25/t, but to be settled against March's index, for 3,800 kc NAR material.

 

Paper

M42 traded as a spread for April vs May at minus $0.95, with April pegged at $40.25 and May at $41.20. The same spread traded later on at minus $0.60, with April at $40.25 and May at $40.85. During the day, March was heard bid at $37.30 and offered at $38.00, while April was bid at $40.00 and offered at $40.75. May was bid at $40.60 and offered $41.70, and June was heard bid at $40.25 and offered at $41.25. A market for Q2-21 was bid at $40.40 and offered at $41.50. A spread for April vs May was heard bid at M42 minus $1.50 offered at minus $0.75.

 

Source: IHS Markit