SGX M42F Thermal Coal - Daily Update 29 May 2020
Monday, June 1 2020 - 05:42 PM WIB
20kt traded in Friday T Session
Jun-20 traded 10kt @ $28.00
Jun-20 traded 10kt @ $27.75
May month-to date:
Futures volume at 254kt, Open interest at 284kt
Total volume since January 2020: 1,248kt
Physical
Indonesian coal prices rose further over the week, riding on the momentum of growth from the past month. However, Chinese spot buying activity was notably quieter, as import quota allocations are becoming more limited, it is understood. Low c.v. material was heard traded into India at $29.00/t FOB, basis 4,200 kc GAR, for June loading geared vessels, though the imminent monsoon is likely to keep import activity weak. Several more Indonesian low-rank trades were reported at $28.75-$30.00/t FOB, basis 3,800 NAR, for June loading geared material.
Paper
M42 traded via SGX for June at $27.75-29.50/t, compared with $29.50-30.50/t in the week prior. Several deals also went through for Q3 contracts at $28.90-29.75/t. Markets were last reported bid at $27.50 and offered at $28.25 for June, with July bid at $27.45 and offered at $28.65. Further out, Q3-20 was bid at $27.75 and offered at $29.00, and Q4-20 bid at $28.35 and offered at $29.25.
Source: IHS McCloskey