SGX M42F Thermal Coal - Daily Update 6 May 2019
Tuesday, May 7 2019 - 07:19 AM WIB
May month-to date:
Futures volume 0kt, open interest 65kt
Total volume since April 2018: 714kt
Physical
Indonesian thermal coal prices continued to tick higher this week, but demand tapered off latterly, with China on holiday from 1-4 May. Rain in South Kalimantan constrained supply, and brought support to low-rank prices. Many buyers are also understood to be rushing deliveries for the first half of June - ahead of the Eid Ul Fitri holidays in Indonesia. In the low c.v. market, a trade for May was concluded at $39.00/t FOB, basis 3,800 kc NAR, for a geared vessel. An index-linked deal was also heard to have settled at M42/ICI4 plus $0.25/t, for a geared vessel loading in May.
Paper
Values for M42, as listed on SGX, rose in line with physical prices. Fair value for May averaged $39.13/t, up from where it traded at $38.45/t last week. June was valued at around $39.25/t, rising on the week from last week's transacted level of $38.10/t. Further out, the Q3 contract averaged $38.25/t. (ends)