SGX M42F Thermal Coal - Daily Update 6 April 2021
Wednesday, April 7 2021 - 05:23 PM WIB
5kt traded in the Tuesday T session
NLT
Jun-21 traded 5kt @ $44.75
Swaps
NIL
April month-to date:
Futures Volume at 60kt, Open Interest at 505kt
Swaps Volume at 0kt, Open Interest at 40kt
Total volume since January 2021: 2,971kt
Physical
Spot cargoes of Indonesian material are understood to be increasingly difficult to secure, multiple trading sources said. Besides the tightness in supply, market sources say the bid-offer gap remains wide, deterring buyers from concluding deals. "We are getting offers at around $50.00/t FOB, basis 4,100 kc GAR, for Panamaxes which is high even for the China market," a Jakarta-based trader shared. Despite more enquiries from India, rising spot prices and freight rates have done little to bring about deals. Heavy rains were said to be limiting miners' production and ability to move and load material across varies regions in Kalimantan.
Paper
It was slow day for paper in Asian trading. M42 traded at $44.75 for June, which was down on the last reported June deal done last week at $45.25. Earlier in the day, April was bid at $44.50 and offered at $47.00, with May bid at $45.25 and offered at $46.50, and June bid at $44.50 and offered at $46.00.
Source: IHS Markit