SGX M42F Thermal Coal - Daily Update 26 August 2020
Thursday, August 27 2020 - 04:53 PM WIB
August month-to date:
Futures volume at 174kt, Open interest at 429kt
Total volume since January 2020: 2,314kt
Physical
Bids were in short supply for Indonesian material in the spot market. An offer for a geared vessel loading in September was still offered at $23.50/t FOB, basis 3,800 kc NAR, although lower offers were still said to be out there at sub $23.00/t levels. A bid was reported at $22.00/t FOB, basis 3,800 kc NAR, for a late September, early October loading geared vessel. A market for an October loading geared vessel was bid at $21.50/t FOB, basis 3,800 kc NAR, and offered at $24.50/t FOB, same basis.
Paper
M42, listed on SGX, was bid for August at $23.75 and offered at $23.90, while October was bid at $23.50 and offered at $24.50. Spreads were more prevalent, with September vs October bid at M42 minus $1.00 and offered at minus $0.60. October vs November was bid at minus $1.05 and offered at minus $0.75.
Source: IHS Markit