SGX M42F Thermal Coal - Daily Update 5 March 2020

60kt traded in Thursday T Session

    Mar-20 traded 30kt @ $34

    Apr-20 traded 10kt @ $34

    Apr-20 traded 20kt @ $33.90

 

March month-to date:

Futures volume at 90kt, Open interest at 338kt

 

Total volume since January 2020: 542kt

 

Physical

Prices continued to soften in Asian thermal markets with demand from China remaining weak and Indian activity also still down on the back of strong domestic coal production. Deals were reported for low-rank cargoes, done at $33.50/t FOB and $33.75/t FOB, basis 4,200 kc GAR, for March loading geared vessels. An April loading geared vessel was heard bid at $33.00/FOB, basis 3,800 kc NAR, and offered at $34.65/t FOB, same basis.

 

Paper

M42 paper, listed on SGX, traded a couple of times at $34.00 for a total of 30,000 t for March and a deal for 20,000 t for April also cleared at $33.90. This was followed later by another April deal for 10,000 t at $34.00. Earlier in the day, March was bid at $33.75 and offered at $34.50. Further out, April was bid at $33.30 and offered at $34.30, while May was bid at $33.15 and offered at $34.45.

 

Source: IHS McCloskey