SGX M42F Thermal Coal - Daily Update 29 July 2020
Thursday, July 30 2020 - 05:05 PM WIB
July month-to date:
Futures volume at 355kt, Open interest at 438kt
Total volume since January 2020: 2,090kt
Physical
With limited buying interest, the supply tightness reported in the past few weeks does not appear to be enough to support prices, with more offers than bids seen. Much of the short covering witnessed last week seems to have been resolved, for now at least, resulting in bids moving lower. An offer was reported at $25.50/t FOB, basis 3,800 kc NAR, for an August loading geared vessel, although bids were said to be no higher than $24.00/t FOB, same basis. A Panamax was also said to be offered at $26.50/t FOB, basis 3,800 kc NAR, also for August loading. A market was heard for a September loading geared vessel bid at $24.75/t FOB, basis 3,800 kc NAR, against an offer at $26.20/t FOB, same basis.
Paper
M42, listed on SGX, was bid for August at $25.05 and offered at $25.75, with September bid at $26.00 and offered at $26.50, while October was bid at $26.75 and offered at $27.25. Further out, Q4-20 was bid at $27.75 and offered at $28.25, with Q1-21 bid at $28.75 and offered at $31.00.
Source: IHS Markit.