SGX M42F Thermal Coal - Daily Update 28 April 2020
Wednesday, April 29 2020 - 06:39 PM WIB
April month-to date:
Futures volume at 37kt, Open interest at 116kt
Total volume since January 2020: 994kt
Physical
Spot prices for prompt loading cargoes are still under downwards pressure as offers continue to outnumber bids. A trade was reported today at $24.15/t FOB, basis 3,800 kc NAR, for a May loading geared vessel. An offer was heard reported at $24.15-24.50/t FOB, basis 3,800 kc NAR, for May loading geared vessels. For June loading, a deal was seen at $24.50/t FOB, basis 3,800 kc NAR, for a geared vessel. Offers were reported at $25.00-28.25/t FOB, basis 3,800 kc NAR, for June loading geared vessels.
Paper
M42, listed on SGX, was bid for May at $24.00 and offered at $25.75, while June was bid at $24.00 and offered at $27.00. A market for a spread for May vs June was bid at minus $0.75 and offered at plus $0.25.
Source: IHS McCloskey.