SGX M42F Thermal Coal - Daily Update 4 March 2021

10kt traded in the Wednesday T+1 session

NLT

    Apr-21 traded 10kt @ $37.50

Swaps

    NIL

20kt traded in the Thursday T session

NLT

    Apr-21 traded 5kt @ $38.20

    Apr-21 traded 5kt @ $38.15

    Apr-21 traded 5kt @ $37.85

    Apr-21 traded 5kt @ $37.50

Swaps

    NIL

March month-to date:

Futures Volume at 85kt, Open Interest at 656kt

Swaps Volume at 0kt, Open Interest at 50kt

Total volume since January 2021: 2,207kt

 

 

Physical

Demand for Indonesian material was still dispiriting, several suppliers commented, with bid-offer gaps still wide. Producers are understood to be catching up on production and loading activity has generally stabilised, with the exception of a couple of anchorages, a Jakarta-based shipping contact said. However, mining sources were understood to be less open to offering cargoes beyond March. A deal was heard done at $37.00/t FOB, basis 3,800 kc NAR, for a late March, early April, loading Panamax. An offer was heard earlier at $38.25/t FOB, basis 3,800 kc NAR, for a late March, early April, loading geared vessel. An offer for an April loading geared vessel was also heard at $40.30/t FOB, basis 3,800 kc NAR. A geared vessel loading in May was reported bid at $36.00/t FOB, basis 3,800 kc NAR.

 

Paper

M42 traded at $37.50 and $37.85, which follows the last April deal done last night at $37.50. After the deals, M42 was bid for March at $37.75 and offered at $39.00, while April was bid at $37.85 and offered at $38.75. May was bid at $37.40 and offered at $38.00. Further out, Q2-21 was bid at $36.00 and Q3-21 was bid at $34.00. A spread for March vs April was bid at M42 plus $0.65 and offered at plus $2.00. Later in the afternoon, April traded again, higher at $38.15 and $38.20.

 

 

Source: IHS Markit