SGX M42F Thermal Coal - Daily Update 7 August 2019

10kt traded in Wednesday T session

    Sep-19 traded 5kt @ $32.50

    Oct-19 traded 5kt @ $32.30

 

August month-to date:

Futures volume at 86kt, open interest at 151kt

 

Total volume since April 2018: 1.14 million metric tonnes

 

Physical

Asian thermal markets were subdued, with few bids reported and sellers seemingly unwilling to move much lower to meet the limited buying interest that emerged. The weakness of the Chinese currency has kept buyers there out of the market for much of the week so far. Meanwhile, Indian traders were staring to show more interest, although many were understood to be focused on timing, anticipating prices may continue to soften in the near term. For low c.v. material, a trade was reported at $26.75/t FOB, basis 3,800 kc GAR, for an August loading geared vessel.

 

Paper

M42 paper, listed on SGX, traded at $32.50 for September and 32.30 for October. Earlier in the day, August was bid at $32.50 and offered at $33.25, with September bid at $32.35 and offered at $32.85. Further out, Q4-19 was bid at $32.00 and offered $33.00, with Q1-20 bid at $33.00 and offered at $36.10. A bid was also reported at $33.00 for Q2-20. Spreads were reported for August v September, with bid at plus $0.15 and offer at plus $0.45, with September v October bid at flat $0.00 and offered at plus $0.20.