SGX M42F Thermal Coal - Daily Update 24 May 2019
Monday, May 27 2019 - 04:14 AM WIB
May month-to date:
Futures volume 45kt, open interest 90kt
Total volume since April 2018: 759kt
Physical
Deals only started to emerge towards the end of the week, with trades for low c.v. coal being reported around mid-$37.00/t FOB, basis 3,800 kc NAR, for June loading geared vessels. A Panamax was also reported to have been sold at $38.00/t FOB, basis 3,800 kc NAR, for June loading. Last week, similar grade coal traded at $38.50/t FOB, basis 3,800 kc NAR, for a geared vessel loading in May, and at $38.00/t FOB, basis 4,100 kc GAR, for a June loading geared vessel. On a China-delivered basis, deals were done for low c.v. coal at $45.20-45.50/t CFR, basis 3,800 kc NAR, for a June arrival Panamax into Guangdong, compared with a trade done a week back at $46.00/t CFR, same basis, but for May loading Panamax.
Paper
Multiple trades for M42, as listed on SGX and ICE, were settled at $37.50-37.70/t for June. This is lower than traded levels for June last week at $38.00/t. Fair value for the Q3 contract was $37.40/t, down $1.00/t on the week, while the Q4 contract averaged $37.05/t, falling from $38.00/t last week. (ends)
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