SGX M42F Thermal Coal - Daily Update 7 May 2020
Friday, May 8 2020 - 06:43 PM WIB
2kt traded in Wednesday (6 May) T Session
May-20 traded 2kt @ $24.75
May month-to date:
Futures volume at 7kt, Open interest at 119kt
Total volume since January 2020: 1,001kt
Physical
Trading activity was muted for Indonesian material this week, reflective of persistently low demand in an oversupplied market. The bid-offer gap for low c.v. material is still wide with bids heard at $22.10-23.00/t FOB, basis 4,200 kc GAR, against an offer at $24.00/t FOB, same basis, for June loading geared vessels. Last week, June loading geared vessels traded at $24.50-25.00/t FOB, basis 3,800 kc NAR. Markets for July loading geared vessels of similar material were bid at $22.10-24.00/t FOB, basis 3,800 kc NAR, against offered at $24.00-28.25/t FOB, same basis.
Paper
M42 traded this week via SGX for May at $24.75 for May and June at $25.60/t, the latter up $0.10 on the week. Latest markets were reported bid at $23.50 and offered at $25.20 for May, with June bid at $25.00 and offered at $26.15. Further out Q3-20 was bid at $25.00 and offered at $27.85. while Q4-20 was bid at $25.00 and offered at $28.45.
Source: IHS McCloskey