SGX M42F Thermal Coal - Daily Update 30 December 2019

15kt traded in Monday T Session

• Jan-20 traded 15kt @ $34

 

December month-to date:

Futures volume at 273kt, Open interest at 286kt

 

Total volume since January 2019: 1,387kt

 

Physical

Asia's thermal markets remain slow after the Christmas holiday, with only Chinese buyers actively purchasing. For Indonesia low-rank, a geared vessel was offered at $33.85/t FOB, basis 4,200 kc GAR, for January loading. Another trading firm was offering for similar business at $33.60/t FOB and $33.75/t FOB, basis 3,800 kc NAR, for two geared vessels also loading in January. For February loading geared shipments, an offer was heard at $34.75/t FOB, basis 3,800 kc NAR, while the bid against was $33.25/t FOB, same basis.

 

Paper

M42, listed on SGX, traded three times at $34.00, which is up on its last traded level of $33.70 last week. December 2019 has been building on its record traded month for M42 volumes, and now stands at 273,000 t, beating the previous record set in July, which was 221,000 t. Following the deal, January was bid at $33.75 and offered at $34.25. A spread for January versus February was seen bid at minus $0.25 against an offer at plus $0.10. February versus March was bid at minus $0.25 and offered at plus $0.15.

 

Source: IHS McCloskey.