SGX M42F Thermal Coal - Daily Update 28 May 2019
Wednesday, May 29 2019 - 07:32 AM WIB
5kt traded in Tuesday T Session
• Jun-19 traded 5kt @ $36.70
May month-to date:
Futures volume 50kt, open interest 90kt
Total volume since April 2018: 764kt
Physical
Indonesian prices continue to weaken with Chinese and Indian buying interest pulling back. For Indonesian low-rank, a bid was reported from a Chinese trader at $37.00/t FOB, basis 3,800 kc NAR, for a geared vessel loading in June. An offer was heard at $38.00/t FOB, basis 3,800 kc NAR, for a June loading Panamax. Activity was limited for lower c.v., with a bid reported at $27.15/t FOB, basis 3,700 kc GAR, for June loading geared vessels, although this was considered too low to gain attention from producers.
Paper
Paper markets were under pressure, as London returned to a bearish environment after being off for a Bank Holiday yesterday, with Newcastle, API4 and M42 all valued lower for prompt month contracts. M42 paper, as listed on SGX and ICE, traded at $36.70/t for June, taking the June M42 contract to 100,000 t. Earlier in the day, June was bid at $36.65/t and offered at $37.15/t. Further out, Q3 2019 was bid at $36.25/t and offered at $37.50/t. (ends)
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