SGX M42F Thermal Coal - Daily Update 31 March 2020

20kt traded in Tuesday T Session

    Apr-20 traded 5kt @ $31.9

    Apr-20 traded 5kt @ $31.4

    May-20 traded 10kt @ $31.35

 

March month-to date:

Futures volume at a RECORD 505kt, Open interest at 348kt

Total volume since January 2020: 957kt

 

Physical

Increased uncertainty surrounding a potential tightening of imports into China slowed activity further in the Asian thermal market. For low c.v. Indonesian material, an offer was reported at $32.00/t FOB, basis 3,800 kc NAR, for April loading geared vessels. No firm bids were reported, although one trader said they were still between $31.00-31.50/t FOB, basis 3,800 kc NAR, for April loading geared vessels. Other participants, however, reported seeing no bids at all. A May loading Panamax was heard bid at $31.50/t FOB, basis 3,800 kc NAR.

 

Paper

M42, listed on SGX, traded at $31.90 and $31.40 for April for a total of 10,000 t, with May trading a couple of times at $31.35 for a total of 10,000 t. The deals pushed the total traded volume for M42 in March over 500,000 t. Earlier in the day April was bid at $31.40 and offered at $32.75, while May was bid at $31.35 and offered at $32.35.

 

Source: IHS McCloskey