SGX M42F Thermal Coal - Daily Update 25 November 2020

November month-to date:

Futures Volume 219kt, Open interest at 550kt

Total volume since January 2020: 3,649kt

 

Physical

For low-rank, deals were reported done earlier in the week at $31.50/t FOB, basis 3,800 kc NAR, for December loading, while a Panamax was also said to have traded at $32.00/t FOB, same basis and loading month. There was talk of deals at around $32.50-33.00/t FOB, basis 3,800 kc NAR, for December loading geared vessels, although these could not be confirmed at the time of writing. Offers were reported at $33.00/t FOB, basis 3,800 kc NAR, for an early December loading geared vessel, and $34.00/t FOB, same basis, for a late December loading geared vessel. A market for a January loading geared vessel was reported bid at $32.00/t FOB, basis 3,800 kc NAR, and offered at $34.00/t FOB, same basis.

 

Paper

M42 was bid for November at $29.65 and offered at $29.95, while December was bid at $31.90 an offered at $32.50. Spreads for December vs January were bid at M42 minus $0.65 and offered at flat $0.00, while January vs February was bid at minus $0.65 and also offered at flat $0.00.

 

 

Source: IHS Markit