SGX M42F Thermal Coal - Daily Update 29 September 2020

12kt traded in Tuesday T session

    Nov-20 traded 7kt @ $27.90

    Dec-20 traded 5kt @ $28.90

September month-to date:

Futures volume at 326kt, Open interest at 416kt

Total volume since January 2020: 2,705kt

 

Physical

Suppliers of Indonesian material said that trading sentiment remained positive, despite the fact that developments in China continue to confuse the market. "We think it's just the Chinese trying to put pressure on the recent price rise," a Jakarta-based trader said. For low-rank, an October loading geared vessel was heard trading at around $25.60/t FOB, basis 3,800 kc NAR. Offers for October loading geared vessels were also heard at $24.75-26.20/t FOB, basis 3,800 kc NAR, depending on mine and laycan. A miner was understood to be offering a late October, early November loading geared vessel at between $26.00-$27.00/t FOB, basis 3,800kc NAR. A November loading geared vessel was also heard offered at $29.00/t FOB, basis 3,800 kc NAR. A market for a geared vessel loading in December was reported bid at $25.00/t FOB, basis 3,800 kc NAR, and offered at $30.00/t FOB, same basis. On an index-linked basis, 3,800 kc NAR material was heard offered M42 minus $0.10 for a geared vessel loading in December. Meanwhile, calendar 2021 was offered at flat to M42.

 

Paper

M42 traded via SGX at $27.90 for November and $28.90 for December, both up on their last traded values of $27.80 and $27.75, respectively. Earlier in the day October was bid at $26.35 and offered at $27.00, while November was bid at $27.60 and offered at $28.05. December was bid at $28.50 and offered at $29.25. Further out, Q1-21 was bid at $27.75.

 

Source: IHS Markit