SGX M42F Thermal Coal - Daily Update 30 July 2019

July month-to date:

Futures volume at a RECORD 196kt, open interest 116kt

 

Total volume since April 2018: 1025kt

 

Physical

Indonesian low-rank prices remained under downwards pressure, with a variety of price points reported. Deals were reported today done at $33.00/t FOB, basis 3,800 kc NAR, for an August loading geared vessel out of South Kalimantan and $33.60/t FOB, same basis, for similar out of East Kalimantan. Another trade was said to have been done at $32.00/t FOB, basis 4,200 kc GAR, for a very prompt loading geared vessel, although the specifications were unclear and could not be confirmed at the time of writing. An offer was also said to have been available at $33.00/t FOB, basis 4,100 kc GAR, for a September loading Panamax.

 

Paper

M42 paper, listed on SGX, was bid at $33.65 for both August and September with the same two months offered at $34.00. October was bid at $33.40 and offered at $33.50. Further out, Q4-19 was bid at $33.05 and offered at $33.50, and Q1-20 was bid at $33.10 and offered at $36.10. Spreads were reported for August v September bid at minus $0.05 and offered at plus $0.25, with September v October bid at minus $0.05 and offered at plus $0.20. A spread for Q4-19 v Q1-20 was bid at minus $3.05 and offered at plus $0.40. (ends)