SGX M42F Thermal Coal - Daily Update 3 February 2020

45kt traded in Monday T Session

• Feb-20 traded 10kt @ $35.50

• Feb-20 traded 25kt @ $35.30

• Feb-20 traded 10kt @ $35.25

 

February month-to date:

Futures volume at 45kt, Open interest at 245kt

 

Total volume since January 2020: 157kt

 

Physical

Asian thermal market activity picked up today with the return of some Chinese buyers and traders, in regions where the extended Lunar New Year holiday has ended. Most of the attention for Indonesian material was focused on the prompt low-rank market, with Chinese traders looking to cover potential near-term short positions. A market for a March loading geared vessel was reported bid at $34.40/t FOB, basis 3,800 kc NAR, against an offer at $36.55/t FOB, same basis. Elsewhere, a bid was reported at $35.50/t FOB basis 3,800 kc NAR, for a geared vessel loading in March. An offer for a mid-February loading geared vessel was also reported at $37.00/t FOB, basis 3,800 NAR.

 

Paper

M42 paper, listed on SGX, traded for February for a total of 45,000 at $35.25, $35.30 and $35.50. This is at the top end, and above, last week's traded level of $34.80-35.25 for February. Following the deals, February was bid at $35.20 and offered at $35.50. Further out, March was bid at $35.00 and offered at $35.60, while April was bid at $34.45 and offered at $35.65.

 

Source: IHS McCloskey