SGX M42F Thermal Coal - Daily Update 7 January 2020
Wednesday, January 8 2020 - 06:55 PM WIB
January month-to date:
Futures volume at 15kt, Open interest at a RECORD 301kt
Total volume since January 2020: 15kt
Physical
Most of the attention for Indonesian cargoes is currently centered around low-rank, supported by Chinese generator tenders. Prices, however, were mixed, with deals being reported at $33.40/t FOB and $34.25/t FOB, basis 3,800 kc NAR, for late January loading geared vessels, with the price difference seemingly based on mine origin. A February loading geared vessel was said to be bid at $33.45/t FOB, basis 3,800 kc NAR, against an offer at $34.60/t FOB, same basis. A separate February market was also reported, bid at $33.75/t FOB, basis 3,800 kc NAR, and offered at $34.50/t FOB, same basis.
Paper
Prompt M42 paper, listed on SGX, was generally firming, bid at $33.80 and offered at $34.45 for January. February was bid at $33.90 and offered at $34.45, while March was bid at $33.85 and offered at $34.60. Further out, Q2-20 was bid at $33.60 and offered at $35.10. Open interest on SGX for M42 hit a new record on Monday of 301,000 t.
Source: IHS McCloskey.