SGX M42F Thermal Coal - Daily Update 5 June 2020
Monday, June 8 2020 - 06:37 PM WIB
85kt traded in Friday T Session
Jun-20 traded 5kt @ $27.00
Jun-20 traded 10kt @ $26.85
Jun-20 traded 55kt @ $26.50
Jul-20 traded 15kt @ $27.50
June month-to date:
Futures volume at 186kt, Open interest at 352kt
Total volume since January 2020: 1,434kt
Physical
It was quiet week for trading activity putting further pressure on Indonesian prices. Indonesian coal suppliers say inquiries from China have suddenly muted as import quotas run out, while India's coal buying interest remains weak. Offers fell over the week for low c.v. coal, at $28.10-30.25/t FOB, basis 3,800 kc NAR, for a July loading geared vessel, although bids were scarce. A deal was heard at around $27.50/t FOB, basis 3,800 kc NAR, for a July loading geared vessel. June loading material was heard bid at $27.00/t FOB, basis 4,200 kc GAR, for a geared vessel, against several offers at $27.50-29.00/t FOB, same basis.
Paper
A flurry of paper trading activity went through over the week, with M42 trading via SGX for June at $26.50-27.50/t, down on last week's deal seen at $28.00-29.50/t, and 70,000 t cleared on Friday alone. July M42 concluded at $27.50-28.00/t over the week, with 15,000 t done on Friday. The M42 Q3 contract traded at $28.00/t earlier in the week, significantly lower than transacted levels the previous week at $28.90-29.75/t.
Source: IHS McCloskey