SGX M42F Thermal Coal - Daily Update 5 June 2019
Thursday, June 6 2019 - 03:27 AM WIB
June month-to date:
Futures volume 20kt, open interest 60kt
Total volume since April 2018: 794kt
Physical
Market activity was limited due to Indonesian being out on a week-long national holiday. Some business was heard however. Offers for low-rank were heading lower. Chinese market participants reported offers on Tuesday at $36.50/t FOB, basis 3,800 kc NAR, for a June loading Panamax and $37.00/t FOB, same basis, for a July loading Panamax. For geared vessels, an offer was reported at $36.50/t FOB, basis 3,800 kc NAR, for July loading. A bid was heard on Monday at $36.50/t FOB, basis 3,800 kc NAR, for a June loading geared vessel, although similar numbers were not seen on Tuesday.
Paper
It was a holiday in Singapore on Wednesday so paper activity was quiet. However, on Tuesday M42 paper, as listed on SGX, traded higher at $35.45/t and $35.50/t for June - building on what was already a record breaking month for M42. These trades were marginally higher from the Junes trades reported on Monday at $35.40-35.45/t. Following the trades, June was bid at $35.45/t and offered at $36.20/t, while July was bid at $35.00/t and offered at $36.20/t. August was also bid at $35.00/t and offered at $35.20/t. Bids for both Q3 and Q4 were heard at $35.50/t. (ends)