SGX M42F Thermal Coal - Daily Update 26 February 2021

5kt traded in the Friday T session

NLT

Mar-21 traded 5kt @ $37.00

Swaps

NIL

February month-to date:

Futures Volume at 633kt, Open Interest at 626kt

Swaps Volume at 50kt, Open Interest at 50kt

Total volume since January 2021: 2,122kt

 

 

Physical

Rising freight rates and still modest demand for spot material put pressure on Indonesian prices, with traded levels lower on the week. Several trading sources said that Indonesian prices were deemed too high for buyers amid growing domestic output in China and weak South African coal prices for sub-bituminous material. A wide gap in traded levels was noted this week with branded, low sulphur material transacting at $41.30/t FOB, basis 4,200 kc GAR, for an April loading Panamax, while March loading geared vessels of standard spec material settled at $37.50-39.00/t FOB, basis 3,800 kc NAR. On an index-linked basis, a bid was heard at M42 minus $0.50/t, basis 3,800 kc NAR, for an April loading geared vessel, with no offers heard against. On a China-delivered basis, a deal for a March arrival Panamax was done at $53.00/t CFR, basis 3,800 kc NAR.

 

Paper

Over the week, deals for M42 settled for March via SGX at $37.25-40.40/t, versus deals done last week at $38.90-40.25/t. April traded at $37.00-39.65/t, compared with $38.50-39.50/t done a week ago.

 

 

Source: IHS Markit