SGX M42F Thermal Coal - Daily Update 29 January 2020
Thursday, January 30 2020 - 09:17 PM WIB
January month-to date:
Futures volume at 47kt, Open interest at 293kt
Total volume since January 2020: 47kt
Physical
While some market participants have returned following the Lunar New Year, China remains off and concerns are growing of a prolonged slowdown due to the coronavirus outbreak, which started in Wuhan, Hubei province. There was still talk of tightness out of Indonesia, although with China out of the market, and India buying also lackluster, few prices were reported. Fair value for low-rank was still being cited by one international trader at around $35.00-35.50/t FOB, basis 4,200 kc GAR, for prompt loading geared vessels. However, an offer was reported at $37.00/t FOB, basis 4,200 kc GAR, for 50,000 t loading in February, although the bid was still at around $35.00/t FOB, same basis.
Paper
It was a quiet day for paper markets in Asia. M42 paper, listed on SGX, was bid for February at $35.50 against an offer at $35.80, while March was bid at $35.30 and offered at $35.80.
Source: IHS McCloskey.