SGX M42F Thermal Coal - Daily Update 7 August 2020 and 10 August 2020

50kt traded in Friday T session

    Sep-20 traded 50 kt @$24.40

August month-to date:

Futures volume at 104kt, Open interest at 372kt

Total volume since January 2020: 2,244kt

 

 

Physical

A sustained lack of buying interest weighed Indonesian coal prices down over the week with few trades heard, and bid-offer gaps still wide. A couple of deals for low-rank cargoes were heard being sold into India at around $25.00/t FOB, basis 4,200 kc GAR, for geared vessels loading in September. Separately, another trade was heard done at the start of the week at $25.75/t FOB, basis 4,200 kc GAR, for a September loading geared vessel, also into India, though this could not be confirmed. Further out, markets for October were bid at $24.00-25.00/t FOB, basis 3,800 kc NAR, for geared vessels, against $26.50-27.26/t FOB, same basis. On a China-delivered basis, a deal was settled at $31.50/t CFR, basis 3,800 kc NAR, for an August arrival Panamax into Guangdong.

 

Paper

Traded levels for M42 were lower over the week, in line with physical transactions. August M42 contract traded via SGX at$24.40-24.75/t, falling from $25.40/t, a week ago. September M42 traded at $24.40/t, down sharply on the week from $26.15-26.20/t. An M42 Q4 contract traded at $27.60/t, slightly lower than $27.90/t the week previous.

 

Source: IHS Markit