SGX M42F Thermal Coal - Daily Update 25 March 2021

30kt traded in the Thursday T session

NLT

    Mar-21 traded 5kt @ $37.85

    May-21 traded 5kt @ $42.00

    May-21 traded 5kt @ $41.90

    May-21 traded 5kt @ $41.50

    Apr-21 traded 5kt @ $40.90 (Apr-21/May-21 spread @ $0.50)

    May-21 traded 5kt @ $41.40 (Apr-21/May-21 spread @ $0.50)

Swaps

    NIL

March month-to date:

Futures Volume at 670kt, Open Interest at 906kt

Swaps Volume at 0kt, Open Interest at 50kt

Total volume since January 2021: 2,792kt

 

Physical

General firming of buying sentiment continued to be felt by Indonesian coal suppliers. However, cargoes for April were understood to be sold out. It was also heard that a sub-bituminous miner operating out of East Kalimantan had called force majeure on shipments in April due to flooding at its concession, brought on by heavy rain. Low-rank was heard bid at $37.50-39.00/t FOB, basis 3,800 kc NAR, for April loading geared vessels. An April loading Panamax was understood to have traded at $38.80/t FOB, basis 3,800 kc NAR. A bid was heard at the same level. An offer for a March loading Panamax was reported at $42.50/t FOB, basis 3,800 kc NAR.

 

Paper

M42 traded in the morning session at $41.50 for May, which was up on where May was last pegged yesterday at $40.85. Later in the afternoon, May traded again at $42.00. A deal for March was done at $37.85. A spread for April vs May also transacted at minus $0.50, with the April leg at $40.90 and May at $41.40. During the day, March was bid at $37.45 and offered at $37.55. April was bid at $40.65 and offered at $41.50. May was bid at $41.40 and offered at $41.70, and June was heard bid at $40.30 and offered at $41.70. A spread for April vs May was heard bid at M42 minus $1.50 and offered at flat $0.00.

 

Source: IHS Markit