SGX M42F Thermal Coal - Daily Update 5 May 2020
Wednesday, May 6 2020 - 05:12 PM WIB
May month-to date:
Futures volume at 5kt, Open interest at 121kt
Total volume since January 2020: 999kt
Physical
Buying sentiment for Indonesian material has been persistently weak with bid-offer gaps widening further. Many traders remarked that trading activity has been particularly quiet this week. "There has been barely any activity in the past two days. Hopefully China will return to the market tomorrow," a Jakarta-based trader said in reference to the Labour Day holidays from 1-5 May in China. Low c.v. material was heard bid at $22.00-22.50/t FOB, basis 4,100 kc GAR, for 50,000 t loading in May/June, against an offer at $28.00/t FOB, same basis. Elsewhere, an offer was reported at around $24.00/t FOB, basis 3,800 kc NAR, for a June loading geared vessel. An offer was also reported for a July loading geared vessel at $28.25/t FOB, basis 3,800 kc NAR, although no bid was heard. An offer was heard at around $39.75/t FOB, basis 5,500 kc NAR, for a Cape loading in June.
Paper
M42, listed on SGX, was bid for May at $23.50 and offered at $25.20, while June was bid at $25.00 and offered at $26.00. Further out, Q3-20 was bid at $25.75 and offered at $27.20, with an offer for Q4-20 at $28.45.
Source: IHS McCloskey