SGX M42F Thermal Coal - Daily Update 24 September 2019

30kt traded in Tuesday T Session

• Q1-20 traded 30kt @ $34.85

 

September month-to date:

Futures volume at 132kt, open interest at a RECORD 163kt

 

Total volume since January 2019: 0.82 million metric tonnes

 

Physical

Prices for low-rank cargoes were said to be stable to marginally higher, according to a Singapore-based trader. A deal was reported at $32.80/t FOB, basis 3,800 kc NAR, for an October loading geared vessel. Another deal for a geared vessel was also being talked about at $32.90/t FOB, basis 4,200 kc GAR, for October loading, although this could not be confirmed at the time of writing. Offers for material from different mines were also reported at $32.50-33.00/t FOB, basis 3,800 kc NAR, for October loading in geared vessels. A bid for an October loading Panamax was said to have been received at $33.50/t FOB, basis 3,800 kc NAR. There was also talk of an unconfirmed trade done at $31.75/t FOB, basis 4,100 kc GAR, also for an October loading geared vessel.

 

Paper

Momentum for M42, listed on SGX, continued to grow with Q1-20 trading at $34.85 for 10,000 t a month. This is down marginally down on where Q1-20 last traded at $34.90 and makes September 2019 M42's second best month for volume since the contract was fist listed in April 2018. Earlier in the day, October was bid at $32.75 and offered at $32.95, while November was bid at $32.75 and offered at $33.40, and December was also bid at $32.75 and but offered at $34.85. A bid for Q4-19 was reported at $33.15, while further out, Q1-20 was bid at $34.60 and offered at $35.25.

Source: IHS McCloskey