SGX M42F Thermal Coal - Daily Update 25 February 2020
Wednesday, February 26 2020 - 11:11 PM WIB
February month-to date:
Futures volume at 280kt, Open interest at 402kt
Total volume since January 2020: 392kt
Physical
Prices continue to ease in Asia's thermal markets as sentiment for regional demand appears more bearish. Miners in Indonesia say that demand has taken a beating this week, with little interest heard. "Heavy rain persists in parts of Kalimantan and there isn't an abundance of supply. Just very low demand," a mining source said, reflecting on current price levels. Bids were reported at $34.50-35.00/t FOB, basis 3,800 kc NAR, for March loading geared vessels, with an offer heard at $36.00/t FOB, same basis. An offer for an April loading geared vessel was reported at $35.70/t FOB, basis 3,800 kc NAR.
Paper
M42 paper, listed on SGX, was bid for February at $35.60 and offered at $36.10. Further out, March was bid at $34.50 and offered at $35.35, while April was bid at $34.00 and offered at $35.30.
Source: IHS McCloskey