SGX M42F Thermal Coal - Daily Update 4 May 2020
Tuesday, May 5 2020 - 05:31 PM WIB
5kt traded in Monday T Session
Jun-20 traded 5kt @ $25.60
May month-to date:
Futures volume at 5kt, Open interest at 121kt
Total volume since January 2020: 999kt
Physical
Suppliers in Indonesia said it was difficult to trade given such weakness in the market. A Jakarta-based trader said, "I am laying low due to market uncertainty. I would like to take this time to see which suppliers emerge the strongest amid this pandemic." Sellers talked of Indian buyers bidding at $24.00-24.50/t FOB, basis 4,200 kc GAR, for geared vessels loading in May. However, elsewhere bids for low-rank cargoes were reported at $22.10-23.00/t FOB, basis 3,800 kc NAR, for geared vessels loading in June, against an offer at $24.00/t FOB, same basis. A market for a July loading geared vessel was reported bid at $24.00/t FOB, basis 3,800 kc NAR, and offered at $27.25/t FOB, same basis.
Paper
M42, listed on SGX, traded at $25.60 for 5,000 t for June. Earlier in the day May was bid at $23.25 and offered at $25.20, while June was bid at $24.00 and offered at $26.65. Further out, Q3-20 was bid at $24.50 and offered at $27.85.
Source: IHS McCloskey