SGX M42F Thermal Coal - Daily Update 27 April 2020
Tuesday, April 28 2020 - 05:59 PM WIB
10kt traded in Monday T Session
May-20 traded 5kt @ $25.15
Jun-20 traded 5kt @ $25.50
April month-to date:
Futures volume at 37kt, Open interest at 116kt
Total volume since January 2020: 994kt
Physical
Offers continue to outweigh bids for Indonesian material as buy-side interest remains weak. With Chinese traders working on Sunday (in advance of a national holiday later in the week), business was being reported from over the weekend. A deal was heard at $24.80/t FOB, basis 3,800 kc NAR, for a May loading geared vessel. There was talk of deals being done at around $24.50/t FOB and $25.20/t FOB, basis 3,800 kc NAR, for May loading geared vessels, although neither could be confirmed at the time of writing. Offers, however, were reported at $25.00-26.00/t FOB, basis 3,800 kc NAR, for a May loading geared vessel. An offer was reported at $28.25/t FOB, basis 3,800 kc NAR, for a June loading geared vessel.
Paper
M42, listed on SGX, traded in a May vs June spread deal at minus $0.35, which translated into legs of $25.15 for May and $25.50 for June. This follows deals done on Friday at $25.00-25.50 also May. A market for May was reported bid at $24.25 and offered at $25.75. Bids for June and Q3-20 were reported at $25.00. Earlier in the day spreads for May vs June and June vs July were offered at plus $0.25.
Source: IHS McCloskey