SGX M42F Thermal Coal - Daily Update 7 April 2020
Wednesday, April 8 2020 - 09:10 PM WIB
April month-to date:
Futures volume at 5kt, Open interest at 348kt
Total volume since January 2020: 962kt
Physical
Bid-offer spreads remain wide, with participants finding it difficult to commit to prices in such a volatile environment. There was a report of a bid for an April loading Supramax at $31.00/t FOB, basis 3,800 kc NAR, depending on the suitability of the mine. An offer for a May loading geared vessel was heard at $32.65/t FOB, basis 3,800 kc NAR. On an index-linked basis, a May loading geared vessel was heard offered at flat, basis 4,200 kc GAR, to the average of the M42 and ICI4 indices.
Paper
Prompt paper activity was again limited in Asian trading, with values for M42 appeared to be softening. M42, listed on SGX, was bid for April at $30.50 and offered at $31.10, with May bid at $29.75 and offered at $31.00.
Source: IHS McCloskey