SGX M42F Thermal Coal - Daily Update 3 April 2019

April month-to date:

Futures volume 10kt, open interest 30kt

 

Total volume since April 2018: 644kt

 

Physical

A prompt loading Panamax was understood to have traded at around $38.00/t FOB, basis 3,800 kc NAR, earlier this week. Bids were reported at around $37.00/t FOB, basis 3,800 kc NAR, for late April-early May loading geared vessels, and $38.00/t FOB, same basis, for a Panamax. Sub-bituminous values were heard at around $54.50-55.50/t FOB, basis 4,800 kc NAR, for a prompt loading Panamax. Awards from few tenders by major Chinese power groups started to emerge. One was understood to have been awarded at RMB342/t, or $45.11/t CFR, basis 3,800 kc NAR, for a May arrival geared vessel into east China, while another was awarded at RMB345/t, or $45.50/t CFR, basis 3,800 kc NAR for a May arrival geared vessel into east China.

 

Paper

M42 paper, as listed on SGX, was bid for April at $37.05/t and offered at $38.10/t. Markets were also reported for May, bid at $37.15/t and offered at $38.00/t, with June bid at $36.75/t and offered at $38.30/t.  Further out, Q3 2019 was bid at $36.10/t against an offer at 38.60/t, with Q4 2019 bid at $36.35/t and offered at $38.75/t. (ends)