SGX M42F Thermal Coal - Daily Update 30 March 2020
Tuesday, March 31 2020 - 05:49 PM WIB
March month-to date:
Futures volume at 485kt, Open interest at 338kt
Total volume since January 2020: 937kt
Physical
The impact of COVID-19 on Indonesian supply was increasingly discussed following the announcement that Bayan was shuttering its mining operations for the time being due to the virus. For low-rank, a Panamax was understood to have transacted at on Friday at $32.25/t FOB, basis 3,800 kc NAR, for loading in April. This week, a geared vessel was bid a $30.25/t FOB, basis 3,800 kc NAR, for an April loading shipment. Separate offers for April loaders were reported at $31.80/t FOB, and $32.50/t FOB, basis 3,800 kc NAR, for geared and gearless vessels respectively. An offer was seen at $33.00/t FOB, basis 3,800 kc NAR, for a May loading geared vessel.
Paper
Prompt paper was being led by a big drop in API4, with May Newcastle and M42 also easing, but by much lesser degrees. M42, listed on SGX, was bid for April at $31.40 and offered at $32.75. May was bid at $31.35 and offered at $32.35, while June was bid at $30.00 and offered at $34.10.
Source: IHS McCloskey