SGX M42F Thermal Coal - Daily Update 6 September 2019
Monday, September 9 2019 - 08:46 PM WIB
September month-to date:
Futures volume at 11kt, open interest at 83kt
Total volume since April 2018: 1.19 million metric tonnes
Physical
Indonesian producers appear to be shying away from the export market as prices remain weak. One prominent low c.v. miner from South Kalimantan was heard to have stopped offering spot cargoes into the export market until prices rebound, and there are suggestions that some others may follow. In the low-rank market, an index-linked physical deal was settled at flat to the average of M42/ICI4, basis 4,200 kc GAR, for a September loading geared vessel, flat on the week. October traded at $31.50/t FOB, basis 3,800 kc NAR, for geared vessels. A week ago, bids for October loading geared vessels were heard at $30.60/t FOB, basis 3,800kc NAR, with no offers heard against.
Paper
Deals for M42 were concluded via SGX at $31.70 at the start of the week for October, but rose to $31.95 in the latter half for the same month. Last week, trades went through for September at $31.30-31.40. Fair value for the Q4 contract rose to $33.88, up from $31.25 in the week prior.
Source: IHS McCloskey.