SGX M42F Thermal Coal - Daily Update 25 March 2019
Tuesday, March 26 2019 - 11:42 AM WIB
March month-to date:
Futures volume 35kt, open interest 60kt
Total volume since April 2018: 634kt
Physical
Few bids were heard for Indonesian material, dampening the mood for miners following the tumble in prices in the past week. For low-rank material, buying interest from China was heard at $36.00-36.50/t FOB, 3,800 kc NAR, for April loading geared vessels. This follows on from trades reported on Friday at $37.00/t FOB, basis 3,800 kc NAR, for April loading Supramaxes. Offering levels were heard at $37.00-38.00/t FOB, basis 3,800 kc NAR for April loading geared vessels. A little further out, an indicative bid was also heard at $36.00/t FOB, basis 3,800 kc NAR, for a May loading Supramax.
Paper
Paper prices continued to soften in Asian trading hours, although many participants were happier sitting on the sidelines and waiting for things to settle following last week's falls. M42 paper, as listed on SGX, was offered for May at $37.30/t. Further out, value of Q2 and Q3 2019 was heard to be dropping to around $37.00/t. (ends)