SGX M42F Thermal Coal - Daily Update 8 January 2020
Thursday, January 9 2020 - 07:28 PM WIB
January month-to date:
Futures volume at 15kt, Open interest at 301kt
Total volume since January 2020: 15kt
Chinese buying interest is helping to move prices higher for Australian 5,500 kc NAR and Indonesian low-rank material, amid stock building ahead of the Lunar New Year.
Physical
Indonesian prices continue to firm, supported by Chinese interest for spot business. For low-rank, a deal was reported at $34.00/t FOB basis 3,800 kc NAR, for a February loading geared vessel. Deals for January loading were also reported at $33.75/t FOB and $34.50/t FOB, basis 3,800 kc NAR, for geared and gearless vessels respectively. A market for a February loading geared vessel was reported bid at $33.45/t FOB basis 3,800 kc NAR, and offered at $35.00/t FOB, same basis.
Paper
Prompt M42 paper, listed on SGX, was bid at $33.80 and offered at $34.65 for January. February was bid at $33.90 and offered at $34.75, while March was bid at $33.85 and offered at $34.80. Further out, Q2-20 was bid at $33.60 and offered at $35.00.
Source: IHS McCloskey