SGX M42F Thermal Coal - Daily Update 7 April 2021
Thursday, April 8 2021 - 05:18 PM WIB
30kt traded in the Wednesday T session
NLT
May-21 traded 20kt @ $44.25
May-21 traded 10kt @ $44.00
Swaps
NIL
April month-to date:
Futures Volume at 90kt, Open Interest at 510kt
Swaps Volume at 0kt, Open Interest at 40kt
Total volume since January 2021: 3,001kt
Physical
Coal suppliers from Indonesia have little spot tonnes to offer currently. Heavy rain has forced several producers to focus on meeting existing commitments as opposed to offering into the spot market. "We want to take advantage of current spot price levels but in East Kalimantan, where our mine is, it has been very wet," a source from a middling producer said. For low-rank, offers for May loading geared vessels were heard at $46.50-49.00/t FOB, basis 3,800 kc NAR. For slightly off-spec material, an offer for and April loading geared vessel was reported at $45.00/t FOB, basis 3,700 kc NAR. A Panamax loading in May was offered at $47.00/t FOB, basis 3,700 kc NAR.
Paper
M42 traded at $44.25 for May, which was down on the last reported June deal done late last week at $45.00. May traded later in the afternoon at $44.00. Later in the day, April was bid at $42.00 and offered at $44.50, with May bid at $42.10 and offered $44.25, and June bid at $41.60 and offered at $44.00.
Source: IHS Markit