SGX M42F Thermal Coal - Daily Update 25 October 2019
Tuesday, October 29 2019 - 10:06 PM WIB
15kt traded in Friday T Session
Nov-19 traded 10kt @ $35.25
Dec-19 traded 5kt @ $34.85
October month-to date:
Futures volume at 87kt, Open interest at 115kt
Total volume since January 2019: 929kt
Physical
Indonesian prices rose for another week though the momentum of growth in prices started to slow in the latter half as Chinese buyers show some resistance to chasing offers higher.
One market participant said there was a lack of urgency in the market, stating "sellers are not desperate to sell, and buyers are not desperate to buy." Buying interest from India is improving, however, with post monsoon demand beginning to pick-up. Low c.v. material loading in November traded at $34.75/t and $35.50/t FOB, basis 3,800 kc NAR, for a geared vessel and a Panamax, respectively.
Paper
M42 traded via SGX for Cal-2020 at $35.00 at the start of the week. November trades went through at $35.40 in the middle of the week before easing to $35.25 as the week drew to a close. December traded at $34.85. Fair value for the Q1-2020 contract was $35.00, up from $34.75 a week back.
Source: IHS McCloskey