SGX M42F Thermal Coal - Daily Update 8 August 2019

6kt traded in Thursday T session

 

    Oct-19 traded 2kt @ $32.30

    Nov-19 traded 2kt @ $32.30

    Dec-19 traded 2kt @ $32.30

 

August month-to date:

Futures volume at 92kt, open interest at 157kt

 

Total volume since April 2018: 1.15 million metric tonnes

 

Physical

Indonesian coal prices fell further on the week as demand failed to support material of all grades. There was little traded activity captured given the persistently weak demand. "We don't see India aggressively trying to secure post-monsoon stock and China remains muted," an Indonesian producer said. The bid-offer gap for low-rank coal widened with September loading cargoes bid at $31.50/t FOB, basis 3,800 kc NAR, against offers at $32.00-33.50/t FOB, same basis. August loading geared vessels were offered at $33.25-33.75/t FOB, basis 4,200 kc GAR, against bids for August-September cross-laycan material at $31.00-31.50/t FOB, same basis.

 

Paper

M42 paper trading remained active for another week though deals were settled at lower levels on the week. Transactions on SGX for M42 were seen at $32.85-33.05/t for August, down from $33.60-33.70/t last week. Several deals settled for September at $32.50-33.00/t, easing from last week's levels at $33.70-33.75/t. October traded at $32.30, while deals for a Q4 contract finalised at $33.05/t on Monday before dropping to $32.20/t at the end of the week.